FTSE, DAX, DOW Trading Ideas and discussions

[tokyojoe]

The question is : is trading breaks exactly the same as following the market.

All major levels have an anticipation of a possible break

To trade a breakout is basically gambling on discovering if a break is a trap, or the break is a break, no one knows until after the event, or after the entry.

The actual trick is recognizing quickly enough if the break is a trap or not, without ridiculously wide stops, or being sucked into the vortex

 

[Dentalfloss]

very few are traps
you saw it clearly today

the last breakout to 11500 was a trap

we had it marked before

here is the dow on a break from the open
th

 

[Dentalfloss]

18k has been a good supp..was in from there to 18075 ish
then waited for that to break..red line
trend was up..so went with the trend
nowt else

 

[MichaelJohnFX]

Yh that break to 11400 was a perfect example of that

 

[Dentalfloss]

or do it another way
the dax a few minutes ago broke 11450..

but..
after the break it pulled back and held 11450/twice

 

[Dentalfloss]

tell tale sign.....if the market is unsure about the break..it waits for the pullback
if the pull back looks ok..it usually pullsback to near the breakout level
if the market happy about the pullback level then it motors

 

[Dentalfloss]

thats why i rant on about breakout points/areas

 

[tokyojoe]

the movement was very slow, so anybody entering up in the 11450 a few minutes ago hoping for a break would know they are going to sit in consolidation up there at the mo

It is yesterdays high, so I would wait for the roll atm

 

[tokyojoe]

not touching this creepy price atm

 

[MichaelJohnFX]

You guys are good with the levels. Any idea how high it may go?

My PPs showing 11574 on horizon...

Sorry Atilla, only just saw this. Well clearly it didn't pop

 

[MichaelJohnFX]

not touching this creepy price atm

Agreed. It'll either pop down to 11400 level or pop up to 11520 area. Looks dodgy. We trade the areas haha. Half an hour to go.

Edit: about to head into a meeting. Have orders @ those levels. ffs

 

[Atilla]

Sorry Atilla, only just saw this. Well clearly it didn't pop

No worries, Mr D was spot on in his previous post. Top call guys.

 

[Dentalfloss]

11450.did not last long
Lol

 

[tokyojoe]

11450.did not last long
Lol

Anyone entering a long in that creepy area without sufficient proof of more upward, especially at 4pm ish will need to go back to the drawing board

With massive space underneath & after 5 min parabolic at 3pm ish, not for me.

The thing is by the time it ground down until 4.25 ish, no way I'd short there either

Tomorrow & more opportunities early doors is more for me.

 

[MichaelJohnFX]

11400 didn't last long either haha

Back to square 1 with Daxy then.

 

[tokyojoe]

11400 didn't last long either haha

Back to square 1 with Daxy then.

Sounds like you are pretty damn good on the whole mate, my commitment phobia is becoming a menace again, I've done ok, but lately alot of the moves are happening while I've switched off for lunch.

All good if the morning has been kind.

Lots of times In the past I've sat through lunch time, eyes bulging while waiting for paint to dry, so now, off..........

....But, coming back to see a massive 80 point surge here & there while I've been elsewhere is a carrot all on it's own :-0

I have tried to fit this game around my own circumstance, as have you by the look of it, sometimes it's unbelievably sublime, but sometimes, oh man !!!!

I personally do not find this easy, so many variables, I think it is a bl@@dy hard way to make easy money.

The hammer approach is all good & well sometimes, but I've discovered I am not really wired that way, which is probably not good in the long run.

Anyway, tomorrow is another trap door or rocket launcher pad

 

[Atilla]

To state the obvious I see a 11300-500 range.

Until some major news perhaps it will dilly dally in this range???

On my charts I see 11240 - 11350 - 11450 - 11575 as key areas of S/R.

Your S/R levels seem to be more accurate and held better.

Still not sure which way it's going to swing and prefer to do less than more.

Good day today thanks guys...

 

[MichaelJohnFX]

To state the obvious I see a 11300-500 range.

Until some major news perhaps it will dilly dally in this range???

On my charts I see 11240 - 11350 - 11450 - 11575 as key areas of S/R.

Your S/R levels seem to be more accurate and held better.

Still not sure which way it's going to swing and prefer to do less than more.

Good day today thanks guys...

Spot on Atilla. Daxy oversold at 11240. 11300-11520 as I said in this thread or another thread a few days ago will be the range, until major news comes out regarding this Greek sit. What I don't understand is why the EUR is rallying with Greece on the precipice :S

 

[MichaelJohnFX]

And another nice bounce from that area. Good morning so far.

I think Dax is going to pretty much consolidate between 11342-11520 (latter area identified by denitist) until some major news comes out tbh

Here it is.

You just start to get a feel for levels once you get use to an index.

As a number of you have said in here, trade the levels!

 

[Atilla]

Here it is.

You just start to get a feel for levels once you get use to an index.

As a number of you have said in here, trade the levels!

Yep see it now and need to improve my system I think. I've started jotting things down on a big two page A4 diary.

That sounds like a good plan / range to follow with the beneift of hind sight too.

Many thanks