Daily Dax

[daxdaytrader]

The overall trend looks intact to me. See if the 43-36 band holds. Also looks like 31 may form a trading range pivot again.

 

[foale]

You might well be right there...
Wherever its going it seems in no hurry !
Feels like we are still in late August.

 

[daxdaytrader]

Looks like some weak distribution above 5993 on the Dec06 future.

 

[foale]

Agreed. Both today and yesterday afternoon..
what happenned to those nice Dax runs..
and reliable early pm sell offs?

 

[daxdaytrader]

After a couple of bad shorts earlier, now I'm short 5977.

 

[foale]

DAX cash 5910-12 probably a floor for now

 

[daxdaytrader]

covered 5958.5, if I had another lot on, would hold a short for some more vigorous movement with a stop at 70

 

[daxdaytrader]

these lows are being heavily traded, price might pull back to 67-70, then look for weakness against MAs for another short

 

[daxdaytrader]

The daily support just under 5940.

 

[foale]

Dec dec future 50 down from its highs today

Obviously lots of shorters were to adding to
their positions last couple of days
now well in control

 

[daxdaytrader]

Dec dec future 50 down from its highs today

Obviously lots of shorters were to adding to
their positions last couple of days
now well in control

And to think I was considering a put option when we were at the top, would be earning nicely now. Yes, bears finally pulling through, I kind of got into disbelief they'de turn up, it's been so slow past few days.

 

[daxdaytrader]

There are 2 doji days at this price level.

 

[daxdaytrader]

It was nice to catch that short earlier, at least I can end the day +11 points, but I missed the later pull back from R1, which was an easy 20 point trade. Will look for more downsize potential after the EOD analysis later, again looking for a PUT option trade.

 

[daxdaytrader]

December 06 contract. Price continues to close between narrow bands previously established in April - see chart. Yesterday was a doji day again. Again as with last week bears take over a while to push price down, but are soon corrected. With high volume traded on the lows still plenty of sellers may be around, also trend established last week is looking weaker.

Looking for a ceiling of highs below the 5964, or 5983 for significant down move, or strong lows above 5983 or 5964 for the larger upwards move.

Possible aggressive sell entry at 6000 area yesterday, considered put options, but bulls still holding price above key area. Potential short targets today/tomorrow maybe around 5917 if we break down. Potential upwards targets around 6023 and 6057 areas, but must check again off more recent price action.

I have bearish sentiment and will look to trade short if the lower highs persist today and volumes pick up.

 

[foale]

finding this 5900 to 5950 range a bit irritating now...as I am looking for a position I can run with..
Quess I will have to wait until the triangle completes

Until then taking a few in both directions a good way to gain a few points.

 

[foale]

If 5900 on the cash goes again..I dont expect such a rebound like last time
and a deeper fall into the 5800's

 

[daxdaytrader]

I missed this nice down move, can see it has hit daily support. Really had to be short off yesterdays highs. It was a good option trade. I'll also look for some small moves to take.

 

[daxdaytrader]

some modest accumulation between 5950 and 5960, so long 5956.5.

 

[daxdaytrader]

Scalped only a point on the upside. I'm long a put option, will kill it swift if we have a retest hold.

 

[dcraig1]

wot was that ?