DAX Intraday - November

[neil]

Maybe after yesterdays run the dax will just bounce around in consolidations?

 

[qaza]

neil. agree about consolidation...............do you try to trade days like this ?

 

[Finlayson]

Chances of sideways move r always great after a good push up, it just broke a 4 day old range at 3800 & with 3805 being so heavily traded for a long period it is looking kind of range bound especially if it bounces at 3790..........if it does it will probably take the US to push it out.

.............but then it will do what it likes........as is always the case

Jay

 

[bonsai]

qaza
its only the point where the dax is positive for the day
instead of being (Bl**dy) negative when the rest of the world
is romping upwards!

 

[DaxTrader]

yes, funny that

Dax has outperformed all the others until now recently, so I guess it has to be different.

I think it has further to run in the next day or so - when ever it creates a kind of potential head and shoulders as it has done in last 12 days or so (60 min), it seems to blow the right shoulder away and run higher ( or lower in reverse h&S).
Maybe the trapped shorts has something to do with it

 

[neil]

A Dax System

Good evening readers:

Here is a Dax trading stratagy I found elsewhere;

I don't use it but someone may find it useful.

And a discussion thread accompanies the system:

http://www.elitetrader.com/vb/showthread.php?threadid=24504

Enjoy

 

[bonsai]

we seem to have a gap of sorts 3770/3780 ?

they may just want to fill it early on ?

 

[qaza]

can't see where the gap is

yesterdays close was 86.5 and todays range was 3822/3745

???

 

[bonsai]

I guess you are not looking at cash index ?

 

[qaza]

No, am looking at futures but have just looked at my cash chart and yesterdays close was 48.34 and todays range 3813.2/3739.5 so I still can't see any gaps

?????

 

[bonsai]

have you got a dot chart
<img src="http://chart.bigcharts.com/bc3/intchart/frames/chart.asp?symb=de%3A1876534&compidx=aaaaa%3A0&ma=0&maval=9&uf=0&lf=0&lf2=0&lf3=0&type=32&size=3&state=11&sid=125284&style=320&time=2&freq=9&nosettings=1&rand=9071&mocktick=1">

 

[qaza]

looks like this is data from a sb?

just looked at it again, data is same as i have so probably not from a sb, can see what you mean re 70/80

 

[bonsai]

put your mouse over it and right click then properties.

 

[bonsai]

here is the link for you
http://bigcharts.marketwatch.com/intchart/frames/frames.asp?symb=de:1876534&time=2&freq=9

 

[bonsai]

gap filled
nice trade ?

but now the move up looks gappy

structural weakness anyhow.

 

[DaxTrader]

Hmm - wonder whether thats it already for this morning

long 88s 35 mins ago and waiting, looks very quiet

 

[bonsai]

can't get a handle on this pan european move today.
looks a bit 'technical' - to take out some stops ?

 

[DaxTrader]

it makes more sense looking at 60 min chart

higher lows on the 12th, near retest of highs yesterday, potential higher low put in yesterday creating flat topped triangle

not a good trading enviroment, too choppy as volatility drops off inside range

 

[qaza]

gap filled
nice trade ?

but now the move up looks gappy

structural weakness anyhow.

Good call .............hope you made some money from it

 

[qaza]

maybe this mornings move is anticipating good US data ?