Daily Dax

[hamatrader]

DAX technicals

Hi Everyone

I normally SB trade the DAX. Like many traders I know that I still have much to learn. Apologies if this has already been brought up in the thread before but it would be great to get some opinions from the experienced and the experts here.

Looking at the posts above and having missed the initial sell off for this year starting last week I am now trying to get an entry point for a positional trade on the assumption that we are in a downward trend for a while. The DAX has been down now continuously for quite a few days. I having been looking for an oversold position and thus a pullback so that I could get an entry point. I did think that today was a possibility until bad news from Deutsch Bank, Siemens and others brought the market down further. Darn!
Does anyone here have any ideas on a pullback and hence where a technically good point of reentry would be?
Of course I may be completely wrong in having a bearish outlook on the coming weeks or months and the market may rally higher very soon. However going on earlier posts in this thread - it seems that the DOW and S&P are headed south to at least retest the November lows and possibly then further down toward the 6000s and maybe even ultimately towards the 5000 mark for the DOW later in the year!
Based on this the DAX would be headed towards testing the 4000 mark again. And if the DOW and S&P were headed further lower what are the technical marks below 4000 that the DAX would to be heading towards and testing?
Any views here would be great.

H

 

[catracho]

Hi Everyone

I normally SB trade the DAX. Like many traders I know that I still have much to learn. Apologies if this has already been brought up in the thread before but it would be great to get some opinions from the experienced and the experts here.

Looking at the posts above and having missed the initial sell off for this year starting last week I am now trying to get an entry point for a positional trade on the assumption that we are in a downward trend for a while. The DAX has been down now continuously for quite a few days. I having been looking for an oversold position and thus a pullback so that I could get an entry point. I did think that today was a possibility until bad news from Deutsch Bank, Siemens and others brought the market down further. Darn!
Does anyone here have any ideas on a pullback and hence where a technically good point of reentry would be?
Of course I may be completely wrong in having a bearish outlook on the coming weeks or months and the market may rally higher very soon. However going on earlier posts in this thread - it seems that the DOW and S&P are headed south to at least retest the November lows and possibly then further down toward the 6000s and maybe even ultimately towards the 5000 mark for the DOW later in the year!
Based on this the DAX would be headed towards testing the 4000 mark again. And if the DOW and S&P were headed further lower what are the technical marks below 4000 that the DAX would to be heading towards and testing?
Any views here would be great.

H

Looks like we have broken wedge pattern so theoretical downside target 3510..obviously NOT in a straight line...so if not already short I personally would wait for next rally, unless you can play the momentum (more risky) and short it here (maybe drill down to smaller time frame and see resistance support levels for stops and intermediate targets. Quite often we get a retest of the wedge...but that would be a longer term move..

see attached chart

 

[datav]

Dax

Still got 100 points to go, but you`re on the right track. If only every day was as easy as today

Looks like we have broken wedge pattern so theoretical downside target 3510..obviously NOT in a straight line...so if not already short I personally would wait for next rally, unless you can play the momentum (more risky) and short it here (maybe drill down to smaller time frame and see resistance support levels for stops and intermediate targets. Quite often we get a retest of the wedge...but that would be a longer term move..

see attached chart

 

[hamatrader]

Looks like we have broken wedge pattern so theoretical downside target 3510..obviously NOT in a straight line...so if not already short I personally would wait for next rally, unless you can play the momentum (more risky) and short it here (maybe drill down to smaller time frame and see resistance support levels for stops and intermediate targets. Quite often we get a retest of the wedge...but that would be a longer term move..

see attached chart

Thanks Catracho
Wow what a day today. Seems like there was lot of dumping of stocks.
I never could have predicted the level of selling today. So much for a pull back. Seems to have gone even more away from me. Would have been great to have shorted at the beginning of the day!
Thanks for the chart you sent. If the theoretical target is around 3510 then there is still some way to go. When you say wait for a rally, do you mean a short term one of a few days? Hence from today we would go back towards the 4520 or 4620 level. And then short from there maybe.
There has been a hell of lot of selling over the last week, and being oversold we are due for a rally over a few days.

What does any one think of the Obama effect next week when he is sworn in? Maybe an initial rally before a sell on the news?

 

[akinolukentuf]

5006 fdax short.

4375 close .

 

[DocG24]

Can anyone recommend a good broker for trading the FDAX? Right now I have a demo with Mirius Futures and am using Ninja as a trading platform.

Thanks for your help.

 

[RedDuke]

Can anyone recommend a good broker for trading the FDAX? Right now I have a demo with Mirius Futures and am using Ninja as a trading platform.

Thanks for your help.

Mirus is a very good company, and your funds are held at doorman or rcg.

 

[DocG24]

Mirus is a very good company, and your funds are held at doorman or rcg.

Thanks RedDuke, I will check them out.

 

[daxdaytrader]

Sold

I sold March contract at 4506 this morning, missed the nice top around 4525. Took 97 points of profit so far, and holding out a couple of positions still.

 

[foale]

Short DAX 5840

 

[foale]

out Dax on that fall 5802 +38... see you..

 

[Joules MM1]

foale, good to see you.........rock n rolla :cheesy:

 

[forumtroll]

Hi guys !

If you trade DAX futures, this link might be interesting. It shows prices in US compared to prices in Germany.

http://www.forecastworldindex.com/index.php/euro-shares-in-usa/germany-shares-in-us.html

Do you know why Bayer AG is much more expensive in the US...?

 

[catracho]

Looks like the DAX thread has been very quiet...

have we bottomed, or another leg down..?

 

[CharmerCharts]

Daily Charmer Charts outlook for Dax:

Dax reached our target of 6171/75 before heavy selling pressure resumed exactly as
we had predicted it would.
If we cannot get back above 6155 then we could start to correct lower today. Below
6130signals a move towards 6010/01 where we could see buyers attempting longs
today. However stops below 6094 could then keep prices tumbling further with a
test of 6164/54 then likely although this should be enough movement to the downside
today so look for a bounce from here. Only below 6040 sees further weakness
to 6027/16 next.
Above 6155 gives scope for a test of last week’s highs at 6175/79 and this should
remain hard to beat so sellers will attempt shorts here once again in the hopes of
capping the market before a correction lower. However if we do break higher then
we should be on the way to 6207/10 before 6218/26. Then only a break of 6235
allows for further gains to 6247/49.

 

[Ramin Rostami]

hi my friend
i have a question
witch platform is connect directly to server exchange?? only name??