[Indices]

Game over player one?

[Indices]

And more scaling out. That is a yearly pivot BTW.

[Indices]

Starting to scale out.

[Indices]

The Dow has started to ignore the Nikkei, but is listening to the Dax. Will the 20 period MA which has defined it so well continue to do so?

 

[Indices]

It looks like the earnings release from Facebook, Amazon and Apple have been well received, but the Nasdaq has been skittish around these levels recently.

[Indices]

9 hours ago, dmedin said:

Come on tough guy, let's have more excellent, insightful and incredibly useful insights like this one

 

Sometimes less is more.

[Leverage.]

Hello,

There is a study that mentions leverage here.

https://www.dailyfx.com/forex/fundamental/article/special_report/2015/07/06/forex-trading-the-Traits-of-Successful-Traders.html

 

[Indices]

20 minutes ago, dmedin said:

Well, Eileen?

I have found Joshua Mahony to be all right for a second take on price levels and he uses a four hour chart.

https://www.ig.com/au/news-and-trade-ideas/ftse-100--dax-and-dow-fall-towards-key-support-200724

 

[Indices]

15 minutes ago, dmedin said:

There's a good chance this is 'it', the big fall that the professional investors have been calling for ('the most hated rally ever', i.e. the rally that retail investors made money on) 

 

Wall Street sh!ts a brick

I don’t really care so long as it doesn’t do what the Dax did mid-week.

[Indices]

One of the uses of moving averages is that it takes time for the momentum to dissipate (unless it is a V top or bottom). First the 9 min or 20 min moving average is breached and then there may be a retracement back towards the lows. Then the 100 minute moving average is tested and may fail to breach it giving another higher low and so on.

 

 

 

[Indices]

Well the Dow is back through a yearly pivot- weekly pivot combo, but will it hold?

 I would not risk much here.

[MT4 Indicators]

Dax with an overlay of the S&P500 showing areas of interest when the S&P500 has underperformed and the Dax has outperformed.

OverLayChart.mq4

https://www.forexfactory.com/attachment.php/1227276?attachmentid=1227276&d=1372996918

 

[Indices]

6 minutes ago, dmedin said:

How gracious of your lordship ...

Oh and a yearly mid-pivot and the weekly R2 held the Dax after it had risen about a days ATR from midnight.

[Indices]

On 18/07/2020 at 21:23, AndrewS said:

Since the high of the Nasdaq and the consolidation at the recent highs the Indices have been going there own way somewhat. The Dow and S&P500 as well as the Dax and FRA40 have had low correlations. Actually the Dax and S&P500 resemble each other more than they do the Dow. But this is something one can see on the charts in real time. The Dax pulling ahead on its own to make a high for the week leaving the Dow behind  (perhaps because upbeat information was due from China in 12 hours time). To my eye, the Dax visibly resembles the S&P500 more than the Dow for a couple of months.

But I am not going to dump the Dow in favour of the S&P500 because of a one day loss in the last twenty days.

OK I am probably done for the day so I will post.

I am looking at the S&P500 more than the Dow now.

 

[Indices]

8 hours ago, dmedin said:

 

Is your 'Al Brooks' good?  And if so, why's he spending his time teaching and not trading on the five minute charts?

I am not going to answer that, except to say that I have seen some of his videos and am confident I can benefit from seeing more.

There is also Bob Volman’s “Understanding Price Action: practical analysis of the 5-minute time frame”.  There is a lot of free introductory  videos posted here that look alright to me, but I don’t think I have much to learn from.

One of the difficulties beginners have is they can’t tell what they may not benefit from and is probably ****, hence all the You Tube advertisements I am getting while watching Brian Watt’s videos.

I got censored. 😀

[Indices]

6 minutes ago, dmedin said:

 

Well good luck with that, five minute charts are no use to me.

Look at it another way. If someone can’t spot something on a five minute time frame (and the type of analysis is useful for longer time frames) how good are they really?

[Indices]

26 minutes ago, dmedin said:

How about practicing Elliot Wave?  

I can see the usefulness of listening to someone with experience in price action and chart structure on a five minute chart, but I doubt Elliot Wave would be useful. I will brave the idiosyncratic lingo of Al Brooks.

[Indices]

I’ve started to look at Brian Watt’s videos which others have mentioned. Even if his 20 point boxes are better than daily pivots for the S&P500, I am staying with the daily pivots on the seven indices which I watch because I want my eyeballs on the same thing over and over. The area of most improvement for me is improving an assessment of market conditions anyway.

https://www.youtube.com/channel/UCh_s7EIUrcaijXhSPbxywiQ

 

[Indices]

3 hours ago, dmedin said:

The DAX finished the week on a positive note and the DJIA did not.  So, f*k that sh!t. 

 

Well back due to popular demand (?), but weekends only. I am no fan of the forum platform IG has, which resembles Facebook.

This is the correlations with the Dow and Dax over the last ninety 1 minutes, ninety 5 minutes and so forth.

 

 

Since the high of the Nasdaq and the consolidation at the recent highs the Indices have been going there own way somewhat. The Dow and S&P500 as well as the Dax and FRA40 have had low correlations. Actually the Dax and S&P500 resemble each other more than they do the Dow. But this is something one can see on the charts in real time. The Dax pulling ahead on its own to make a high for the week leaving the Dow behind  (perhaps because upbeat information was due from China in 12 hours time). To my eye, the Dax visibly resembles the S&P500 more than the Dow for a couple of months.

But I am not going to dump the Dow in favour of the S&P500 because of a one day loss in the last twenty days.

[Indices]

5 minutes ago, Caseynotes said:

that's a shame, why?

I think participation in the forum has run its course in what I can usefully contribute and learn from.

[Indices]

Well this is probably my last post here and so as Mr Dante says

Goodbye Legends

[Indices]

There was a confluence of potential resistance on the US indices yesterday, although I only caught a fraction of the move on the Dax and Nikkei.

The S&P clipping its high in the previous quarter as well as its weekly R1 and daily R2.

The Dow clipping its yearly pivot and weekly R1.

As always an evidence based assessment of market conditions is a precondition to opening a trade.

[Indices]

16 hours ago, elle said:

noticed this on twitter

Does this “Inner Practitioner” have a twitter mind reading certificate?

Am I jealous or angry that they received 931 likes for that post?

I reckon that maybe I am primarily just talking to myself.

[Indices]

15 minutes ago, dmedin said:

 

So, in hindsight.  How did you trade it 'in the moment'?

 

The potential support/resistance is on the charts and that much is not hindsight. I have sort of taken the day off and am watching a TV show and have only traded the Dax today. I don’t think I can give a running commentary on what I am doing without it adversely affecting um what I am doing.

[Indices]

10 minutes ago, dmedin said:

 

 

And?

It reached the daily pivot and fell to support at its highs during the early European session and bounced up to the pivot again.