Eurostoxx Market Characteristics

jerry828 said:
Jaydee, you will find that trend days like friday will most likely be followed by quiet balancing days unless some really extraordinary news comes out. The continuation down from friday occured on wednesday, and I expect thursday to be balancing, although DAX is trying to pull up.
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Thanks jerry, this is useful to know. I think I'm going to be trying to sell rallies and breaks of support for the duration - looking for the main break of 3500 is going to be a priority.

I sold 3600 yesterday morning because it wasn't that volatile and I thought there wasn't enough momentum to breach to the upside - I was right. :) However, I assumed the 3550 level would hold because I still thought it was a low volatility day. How wrong was I? :whistling I stopped out for a small loss but it just goes to show how quickly sentiment can change! I learnt a lot yesterday.

Today, there seems to be a small retracement level around 3534 - what are you thinking?
 
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jaydee, from what I can see, the attempt to the upside is not very succesful and has attracted decreasing volume. I would be suprised to see a reversal of ydy's action. I have faded the the range edge short a couple of times (one scalp and one BE+1), +6p so far. Gonna give this another hour and come back when US notes open if nothing else happens. DAX is hovering around it's hi volume point and not taking any direction.
 
Yeah, I'd agree with that - I'm staying out for the time being.

I did one trade this morning, selling off at 3532 . The move went to 3516 but I covered at 3520. Done nothing since.

I think I'm going to take a break and be back for the US retail sales and employment figures this afternoon. Typically, do these figures have much of an effect on the Stoxx future?
 
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Jaydee said:
Yeah, I'd agree with that - I'm staying out for the time being.

I did one trade this morning, selling off at 3532 . The move went to 3516 but I covered at 3520. Done nothing since.

I think I'm going to take a break and be back for the US retail sales and employment figures this afternoon. Typically, do these figures have much of an effect on the Stoxx future?
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Yes, whatever has an affect on Globex will impact the stoxx.
 
From around 3550 to 3520 I've noticed there has been loads of support. There hasn't been a break from a congestion zone and a nice move down into more congestion; it has just been move a couple of points down into congestion, move a couple of points again into congestion, etc, etc. Been a bit surprised at all the large buying volume.
 
Can anyone recommend a news feed or news provider with good Eurex coverage for those of us that like fundamentals?
 
Jaydee said:
From around 3550 to 3520 I've noticed there has been loads of support. There hasn't been a break from a congestion zone and a nice move down into more congestion; it has just been move a couple of points down into congestion, move a couple of points again into congestion, etc, etc. Been a bit surprised at all the large buying volume.
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Yeah, I agree. There has been more support than I expected and basically balancing for almost 2 weeks now. Looks like we are starting to crawl lower this morning though. I had issues with taking long trades over the last months.
 
Most of my trades have been short the last few days too.

Looking at it at the moment (12:10pm), there seems to be a potential short-term up trend forming. I don't like putting trades on at this time of the day though, so I'm going to be patient.

Still waiting for a big break of 3500 - there will be a lot of people long from here and I'm pretty sure we can expect lots of stops beneath - if only we get there.
 
...and there it happened - 3500 to 3447. There was one point where a stop was hit and it went from 80 bid to 73 bid in a flash!

I'm pleased because Thursday was a very messy trading day. The market had no sense of direction at all and was pretty chaotic to trade. I think it'll be better now it's moved to a new recent low.
 
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Wasn't trading much last week and missed the trend move down on Friday. This is typically the scenario when I go all in and bag 50-100p. Probably it will take another week or two before we see a trend like this, unless FOMC today changes things.
 
I have decided to drop the Eurex trading and go back to Globex, as this fits my hours better. Another major reason is that I generally find the eustoxx volatility too low compared to ES/YM.
 
Hi Jerry

Good luck with Globex - I'm still fighting the Stoxx. It's been a bit more volatile today. I could have done with it not reversing though.

Cheers

JD
 
I've decided to take the torch from Jerry and continue to post on this thread. No idea if anyone reads it but I'm sure my ranting will help clarify things for myself and, maybe, others who trade this on a daily, intra-day basis. I will post periodically when I make observations which I think will be of interest. I only trade from 7am - 5pm BST, so any price movements later than this I won't report.

Please feel free to make observations and post here if you wish.

JD
 
Well, it's a pretty quiet day as expected. Most will be waiting for the US markets to check in today and realign with the rest of the World markets. Very little out on the financial news figure front and it's been a low volume morning with the Stoxx trading in just over a 30 tick range.

The market has moved down quite a lot now and I'm wondering if there are any long stops left to be triggered. We may, therefore, see some profit taking via the short covering route along with a rally before rejoining the bear party.

About 85% of my trades have all been short over the last 4 weeks but I will be looking out for more long opportunities now, should the setup allow.

Best JD
 
Hi Doberman, thanks for your input.

I've never been very strong with how the indices work against the oil and forex markets. Could you give me a brief description on how these markets, typically, affect the indices?

JD
 
Stuggling at the moment to make ends meat. Finding the afternoon particulary difficult as the market seems almost random with mostly sideways direction but bags of volatility. I'm more of a directional trader but trying to adapt to these types of markets as I believe it's important to be flexible.

Anyone else finding it difficult or easy? In the case of the latter, any advice?
 
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