International Index Trading

[>Apocalypto<]

Trade_it
Look very much like Gartley patterns, based a lot on ABC type corrections.. Pesavanto has a good book on them... can't remember the name of it but if you goooogle Larry Pesavanto and pattern recognition you should be able to find it, at Amazon possibly. Has 222, butterfly, bat, 3 drives etc patterns in it.

Cheers
Kauri

cheers man

 

[Edwood]

hi TIT, yes its harmonics

might get a pause here with Dax... probably no chance tho!

 

[CFD]

hi TIT, yes its harmonics
/QUOTE]

This Is The Show

 

[Edwood]

Aplogies Ed, slip of the old eye!! My attention to detail can be really bad at times!!

no worries Wavepicker, TIT calls me Elwood so have just put it down to a Strainism

 

[lesm]

Seeing as Forex is a bit boring at the moment, but that may change over the next hour or so, with the number of US announcements scheduled to be released

Thought I would take closer look at the DAX. It is interesting on the 15 minute chart as you can more clearly identify the narrow range areas prior to a move.

I have displayed the bollinger bands on the chart as they show a BB squeeze prior to the move occurring. A couple of the narrow range areas look like a ledge, which can also identify potential moves. The R2 line appears to be offering some resistance at the moment, so we may see a bit of a pullback here.

 

[Edwood]

hey Lesm - is that a 24 hr contract? if so I suspect the contractions occur when the exchange is closed - FTSE has a similar look - stuffs up the indicators unfortunately

 

[lesm]

Ed,

Thanks for raising the question.

I think you may be correct, I just went back through the chart in a higher timeframe and it appears to occur at around same time give or take an hour or so.

Sorry about that.

 

[Edwood]

no worries - some people only do their TA on cash charts for that very reason

 

[Trembling Hand]

There will be a Day only contract that will exclude the cash markets closed hours. Not familiar with the dax and you charting platform but try using the same ticker and putting a D on the end. That works on the SFE.

 

[reece55]

Big gap up tonight in the QQQQ's early, but sellers have appeared from the open tonight selling most stocks down. We were all the way up 21 points in the NASDAQ 100 for about 5 mins, now snapped back pretty quickly to about 14 points up. Anyone trading the US tonight???? Good ole tripple witching hour in the US today!!! Great fun......

Cheers
Reece

 

[Trembling Hand]

I'm watching. that looks way to hot of a start on the back of two good up days up? Sell anyone?

 

[reece55]

I'm watching. that looks way to hot of a start on the back of two good up days up? Sell anyone?

Yep, I was short in ERTS as soon as the gap up today was filled, opened at about 49.50 - closed out for a quick bit over a 1%, but I will call it a night now - has that real "I need to get in at all costs" feel tonight in the US, sold down pretty heavily from the open.

All the best.....

Cheers
Reece

 

[wayneL]

For mirth and amusement

 

[>Apocalypto<]

my dow position is roaring a head.

now looking for some consolidation, or maybe a 38% - 50% reatarcement of the current break to add another long.

 

[>Apocalypto<]

Dow,

Price is moving in a unstable price angle due to that angle, resistance seen on the last period is nothing to worrying.

resistance line in confirmed by two pionts from the last highs made before correction. at 13694.

i am now looking for some further possible weakness taking the price to the 38% - 50% retracement area and putting the price back in harmony. a touch and rise off the gann line shows harmony and confirms the new trend plus seting up a ascending triangle with possible new highs to be reached.

weather it falls straight into that FIB area or moves sideways slightly down into that area is up to the market to decide.

I personally think a little more faster drop may happen due to alot of aggressive profit taking.

looking to add on a touch and bounce off the Gann line.

 

[Arturius]

Hello all. Last 2 days have been boring, big gap to start the day, then a bracketed market on lower volume for most of the day. Difficult to stalk any movements. I'm just waiting for something to happen, then I'll re-evaluate. Difficult to know where the value is exactly at this stage, I wouldn't be surprised to see a pullback today so I'm slightly bearish.

 

[Arturius]

Short at 13761. big volume, lack of any gap, push downwards, I think most swing traders will start selling off, provoking a short run as people get bearish in intraday trade. TICK is also weak at this stage. 15 point stop, looking for 45 points, will depend on how I see it.

 

[Arturius]

We all love screenies.





What I see: Negative TICK movement, higher volume reject of value zone, moving towards more intermediate zone. Good place for swing traders to sell out. We seem to have shaken off the interest rate move, lack of a gap and good volume looking to sell early on, I think the good traders will catch on, and we'll see a slide. I like this entry point earlier because there probably won't be much upside movement past the previous days value zone, so it has a lower risk to the upside despite not having much momentum. This is because a movement to the upside would mean the whole shabang; intermediate traders and institutions are interested. Good chance I'm wrong as always, but it wouldn't make sense, and if it one thing doesn't make sense, the other thing has something going for it, take a chance.

 

[Arturius]

22 point winner already. Sexy volume numbers, adding 3 contracts.

 

[wayneL]

Divergence on the TICK though.

This might go green