Dax - February

DaxTrader

Active member
229 2
Meant to do something about putting up a post for Feb earlier, but to be honest have found Jan very difficult and busy looking at €$ futures.

But, here we go anyway.

The 3 pushes up on the 60 min or daily charts into the 4150 area have set in a steady down trend in a sort of channel.
Personally I find trading the countertrend drift incredibly hard, as it is now. Not a powerful trend, more a choppy drift.

Would be very suprised if the big swing level pullback on the 13th of Jan (3982 March Futures) didn't provide some strong support, even if it doesn't send the market back to it's highs. Currently in last 2 days there have been strong divergences on 60 min and some sharp buying bounces as it probes the 4000 area.

Hope the chart attached reads ok.

Good luck
:)
 

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DaxTrader

Active member
229 2
Looks like no interest in Dax February thread, assume it has something to do with Dax's great volatility as a trading index (NOT!)

either that or I've offended someone :rolleyes:

16 tick range after 6 hours, appalling.

:sleep:
 

mully

Established member
967 3
Can I also see 5 waves on the DAX

Ahead of the latest IFO survey, note the possible 5 wave count from yesterday.
 

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DaxTrader

Active member
229 2
60 min chart seems to show dax congestion breaking to the downside.

Historical Volatility is now as low as 16% - arggghhhhh
 

dax

Junior member
49 1
DaxTrader

This superlow volatility definitely requires some heavy concentration. I guarantee that if you walk away to take a break a move will unfold.
 

mully

Established member
967 3
well obviously 4008 didn't provide support. That leaves 3980.
 

DaxTrader

Active member
229 2
Dax - agree, loads of concerntration

Problem is, these trend moves like today which used to occur 3 times a week are now so rare :-(

I was long in the Euro, watching the Dax fall, typical

3980 area has gotta be key as you say Mully
 

dax

Junior member
49 1
DaxTrader

Agree...lack of follow-through has been the issue. Moves have been unreliable and you have to be prepared to abandon ship if it doesn't move. And it hasn't moved that much recently...take a look at the weekly ATR in the cash index.
 

splasher

Active member
103 0
With the Dax (and i guess with FTSE also) do you believe the technical support and resistance levels are more important in the cash or the futures.
ie do you watch the cash market where a key level may be 3980 or would you focus on the future where a level may be say 4000?
I guess the question is do the futures lead the cash index or vice versa.........does that make sense?
Splash
 

bonsai

Veteren member
4,106 10
splasher
the futures lead the cash more often than not.
but the cleaner signals seem to come from the cash on both indices.
 
 
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