FTSE, DAX, DOW Trading Ideas and discussions

[Local1]

nice channels on dax daily

 

[Atilla]

Hi Atilla,

Hope you don't mind me asking, what is your RSI setting?

Thanks

Hi Greenlight,

Use box standard defaults for both PP and RSI (14,70,30). See chart attached.



Best to wait for OBOS areas above/below 30/70. 20/80s are even better.

However, the MACD/RSI's only used for gauging momentum.

RSI in short TF work best near Pivot Points. Best to wait.

I would only give them 5% significance.

On longer TFs including 15m charts they can bounce along above or below those levels for ages blowing accounts. So beware to close if wrong and just take the loss.

Also, NOTE, they are misleading prior to release of high impact news. So FA and News drive the Technical Charts imo. Don't want to start a big debate but when big news is due out all indicators and chart stuff including price reacts to the news or inside knowledge.

BUT as signals go especially when levels in agreement and line up with PP and Fib retraces the RSI / MACD / Stochastic / Momentum - when they support R/S and falling volumes are usually great confirmations.

I wouldn't rely on them solely. Price, candlestick formation R/S and higher highs and lower lows etc more significant imo.

They do help encouraging one to pull the trigger, entering trade.


Hope that all makes sense... I thought I qualify it as using them in isolation can be costly (I have the T-shirts :cheesy

 

[Atilla]

Dax looks like really struggling with 11300. No momentum for anything.

I think it's just going to limbo into the weekend around PP.

Unless US open lights it up.




USDCAD looks like if the 1:30 news is showing GDP growth for Canada is positive loony should fall based on RSI weakness.

Needs a test of PP @ 1.30s or even PP-S1 @ 1.2950s I reckon...

 

[Atilla]

nice channels on dax daily

Yes I see similar narrowing into a channel.
Breakout when it comes should be good.
All eyes on US open...

 

[Local1]

wild swing on the loonie, totally get the name now

 

[Dentalfloss]

there we are..we were bullish on spx from this morning
no participation from dax

 

[MichaelJohnFX]

nice channels on dax daily

Thanks for this, Sir

 

[Dentalfloss]

no rate hike in september
nfp next friday

 

[Local1]

that employment cost index news USD bearish hence drop in dollar index

 

[Local1]

no rate hike in september

yep spx up dax down?

 

[Dentalfloss]

that employment cost index news USD bearish hence drop in dollar index

ah..but we were long eurusd from the chart posted yesterday afternoon
1.0900 area was entry
got a nice treat

 

[Dentalfloss]

5 min data from 28/07
2106 is breakout point/aqua
last signal is bullish

2103 was trend support

 

[Dentalfloss]

treats galore today

 

[Dentalfloss]

fxcm getting kicked around big time by holding their usdcad long...lol

 

[Dentalfloss]

back into 2112 and a scalp short as we marked this morning

 

[Local1]

brought and sold in low 50's for a few scalps

forgotten how stressful scalping is!

 

[Atilla]

fxcm getting kicked around big time by holding their usdcad long...lol

That's just another SB company though aren't they? Were they tipping Cad then?

Never pay any attention to anyone else outside of this thread anyhow...

 

[Local1]

couple more minor data points in afternoon, that chicago pmi usually released 5 mins early to subscribers.

see how the US open swings things...

 

[Local1]

Dax looks like really struggling with 11300. No momentum for anything.

I think it's just going to limbo into the weekend around PP.

Unless US open lights it up.




USDCAD looks like if the 1:30 news is showing GDP growth for Canada is positive loony should fall based on RSI weakness.

Needs a test of PP @ 1.30s or even PP-S1 @ 1.2950s I reckon...

absolutely spot on call on the loonie

come off like a train :clap:

 

[Dentalfloss]

dax to pump ??