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Trading the XJO with CFDs

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when price cannot break a basic swing ratio, when the stepping pace is slow and there is an intent to get prices lower (or higher in a downtrend) we should look for price structure to be as clean as possible in what is probable rotation

in play:
xjo looks to break ratio res 200720.png
 
https://www.tradingview.com/x/x3MFj86A/
a redrawn channel to reflect bias, the 5891 uncle* didnt get broken in the cash, bid/offer was fairly balanced today, we should have seen a pile off sellers had locals thought theyre about to see a strong pullback and guru-watch have all got an opine on why we 're due another pullback

channels are merely a guidance, pseudo trendlines to take action on when broken but breaks needs to be decisive from a trend perspective, not like the current mosh of upwards corrective activity
* https://www.aussiestockforums.com/posts/1080422/
 
$dax cash/cfd ran into and stopped at an inverted 127.2% rotation
price need to print a lower low to offer an idea that more than technical resistance at play
 
We want the Nasdaq to fall over first, then all the domino's will follow. Nasdaq is tickling new all time highs again. Huge EU stimulus announced should help DAX (the index, not the shorts).

ps: Dona's homophonic wit went over my head also. Do'h!
 
$dax futes did follow-thru after the cash but i was closed at that point better to be optimistic about outlook without being trade naive
i suspect the xjo will be higher than yesterdays high next two sessions
 
retract that
Joules MM1 said:
i suspect the xjo will be higher than yesterdays high next two sessions
Click to expand...

sp200
failure to catch a bid today not a good look esp with honkers which got halfway back up the larger downswing and been held (held at .5236% cfd, 50% cash)

small quirk harmonic saw xjo hit yesterday plus the overlapping of the smaller swings does not bode well for longs it's more likely we'll have a swing low relative to (breaking the channel decisively)
5684s as a ratio relative to the 9th july > 16th june swing

today we overlapped the 16th high in cash which is less than ideal, another clue the upside has lots it impulsive construct locally.....clearly the selling is not impulsive either so week over week that still favours the bull
yesterday allowed smart money to sell the strength

pig slops
 
DAX: Still looking bullish on Daily and 4H charts for me.
FYSE: This is looking much weaker and would short next rally failure near top of this daily channel.

However that's hard to do while the Nasdaq remains strongly bullish. I'd need to see the Nasdaq close below Monday's (20/7/20) to negate that huge bullish day. Tonight's TSLA results may do that. US buyers will need a major shock to knock their rose coloured glasses off.
 
peter2 said:
DAX: Still looking bullish on Daily and 4H charts for me.
FYSE: This is looking much weaker and would short next rally failure near top of this daily channel.

However that's hard to do while the Nasdaq remains strongly bullish. I'd need to see the Nasdaq close below Monday's (20/7/20) to negate that huge bullish day. Tonight's TSLA results may do that. US buyers will need a major shock to knock their rose coloured glasses off.
Click to expand...
https://www.tradingview.com/x/vznH0tGY/

had some work to do but that ratio has held ...dax longs will give this up and add momo to sells
proviso: brking 13077's confirms the ratio is valid within trend construct
 
$dax/$spx overnight cash implied on the sell*
$xjo broke channel floor*
$hsi on the sell*

*impulsive
 
just sayin

$xauusd
when it dumps, after an almost hyper move, sheds 75 downhill and the retail crowd goes 75%long/25%sel yet the aftermath cannot make above a basic 38%2 retrace (stuck under it)
that's not ideal ingredient to press the "incontrovertible trend" buy button

how far before "value support" comes in ?
https://www.tradingview.com/x/3Uonp6cC/
 

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