FTSE, DAX, DOW Trading Ideas and discussions

[Atilla]

No volume whatsoever going into the close.

Good call btw Atilla. Shame there's no volume to accompany it.

Well it looks like morning session was an up and down for the afternoon.
Now just a big drop.

Was about to apply TSL but decided to take the scalp.

Couldn't close it fast enough took +23 (was looking at +42)

Set another Limit sell order at 11075 wihcih is PPoint.

 

[MichaelJohnFX]

Well it looks like morning session was an up and down for the afternoon.
Now just a big drop.

Was about to apply TSL but decided to take the scalp.

Couldn't close it fast enough took +23 (was looking at +42)

Set another Limit sell order at 11075 wihcih is PPoint.

Good stuff mate. Also just closed my position (3+), but it was all over the place tbh, really should have used your 11075 area. Doing it next time - have that area marked as resis anyway

 

[MichaelJohnFX]

As from next week, stops are becoming wider and removing any bias - easier said than done.

Daxy has somehow fallen 200 points from that 11234 area. No idea how - seems like she's done nothing today.

 

[MichaelJohnFX]

That was a beautiful call Atilla. 50 points!

 

[Atilla]

That was a beautiful call Atilla. 50 points!

Well done g8 stuff.

2nd limit order not bit yet. However, bird in the hand is worth two in the bush as they say.

Well if it continues South I have...

S1 - 10860
S2 - 10590


With Grexit and Monday in the offing best not to keep anything over w/e I reckon.

 

[MichaelJohnFX]

It'd be interesting to see how the market would take a Grexit. The Eurocrats should let them go.

 

[MichaelJohnFX]

Guys, where do you see the FTSE heading if Greece dont get their act together Monday?

Like all indices, only heading south.

An interest rate rise hasn't even been priced in yet. Imagine if the FEd did that this year along with a Grexit

 

[Atilla]

It'd be interesting to see how the market would take a Grexit. The Eurocrats should let them go.

Negative imo.

Markets don't like uncertainty. Eyes will turn to the other Spain/Italy/France etc. However, they seem to be improving so I don't envisage a collapse of the Euro but a good lesson in pulling up socks and adhering to budget deficit rules.

Overall I'm bullish and positive about Euro. I think Germans are great and we can all learn from their discipline. Like to see UK embrace German and French passion and gusto for the European effort if not the euro for now.

Markets need a pull back and what ever the reason is likely to be neither there or here.


Limit order cancelled. Nuff for this week.

See an upturn from 11000s...

 

[Dentalfloss]

In the 18050.support we had marked from the open..will it hold ?
A bad bounce....shorts in

 

[Atilla]

In the 18050.support we had marked from the open..will it hold ?

Not at my usual workstation but if I was a gambling man I'd say no.

I'll go with 18030 at a guess... Set the market up nicely for a fall next week.

As it happens that 10850 line is 50% of the 4H candle stick from yesterday.

Love the numbers game. Mean absolute jack without news and FA but how they get them there I have no idea.

Well I do but must take some doing by the market makers engineering buy and sell orders.

The magnitude of monies and zeros involved must be crazy.

 

[MichaelJohnFX]

Yh these market manipulators. The DOW has been wanting to collapse for ages, somehow a group of Americans are propping it up

 

[NickBk]

Negative imo.

.

I think Germans are great and we can all learn from their discipline. Like to see UK embrace German and French passion and gusto for the European effort if not the euro for now.

Gotta say quiet a lot of rubbish there Atilla. Biggest con ever was the rate the Germans got the Dmark into the Euro at and they have been having a laugh at the rest of Europe since. Their currency should be 30% higher and then they could stop lecturing the southern states on fiscal responsibility.

Now they are fighting to punish the Greeks, better they exit and devalue (unlike the Germans who got to stay in with a ridiculous low rate).

The Germans are the masters at getting a great exchange rate, that is all!

 

[Atilla]

Gotta say quiet a lot of rubbish there Atilla. Biggest con ever was the rate the Germans got the Dmark into the Euro at and they have been having a laugh at the rest of Europe since. Their currency should be 30% higher and then they could stop lecturing the southern states on fiscal responsibility.

Now they are fighting to punish the Greeks, better they exit and devalue (unlike the Germans who got to stay in with a ridiculous low rate).

The Germans are the masters at getting a great exchange rate, that is all!

Hi Nick, no probs feel free to express strong emotion I may be a little off too

I think there is a big spectrum of feelings towards Europe and the Euro. I'm a big fan. What you say about it being under valued for German economy is true yes.

I agree regarding the difficulty of setting a continent wide single policy for interest rate and currency level poses issues for many little countries at different levels of economic cycle. That is indeed one of the weaknesses of the EU.

In any country or continent, inevitably by natural laws of Human Geography, the centre tends to do better than the peripheries. I would rather compete with the best and fall short than win over less performing ones.

Still fancy the French and Germans. UK would fit nicely in there and they too can learn from us.

I'm very pro-EU no hiding my feelings there...

 

[Atilla]

In the 18050.support we had marked from the open..will it hold ?
A bad bounce....shorts in

Also waiting for spx to tank. Can't see it happening though.

Unless melt-down towards the end of the day looks like 2100 will hold.

 

[NickBk]

I have been complaining for years about it, nothing personal to you. Apologies if it came across like that.

It is hard to imagine that for example, Ireland, for many many years was at par with the UK. They joined the Euro at €1.2765 (i think) and whilst the Euro was at 1.10/27 with £ that in effect was Ireland now at a 16% disadvantage with sterling. For sure not a great plan with your biggest trading partner and they have a superior economy.

So it just goes back to the initial politics and Germany screwed the rest of the EU.

 

[Atilla]

I have been complaining for years about it, nothing personal to you. Apologies if it came across like that.

It is hard to imagine that for example, Ireland, for many many years was at par with the UK. They joined the Euro at €1.2765 (i think) and whilst the Euro was at 1.10/27 with £ that in effect was Ireland now at a 16% disadvantage with sterling. For sure not a great plan with your biggest trading partner and they have a superior economy.

So it just goes back to the initial politics and Germany screwed the rest of the EU.

Well before Gordon Brown (bless him) made the BoE independent, there was a lot of rate changes to manipulate sterling wrt Euro/DM/Dollar etc.

It was said sterling was too high for the DM and subsequently for the euro.

Don't recall exactly the period with respect to Ireland's entry but can imagine timing may have affected going in over-valued. High currency has it's pro/cons. Obviously lower currency better for fledgling economies.

 

[MichaelJohnFX]

Areas to watch out for next week (includes levels I posted the other day - Dax pretty much trading within 10800 and 11200 range:

11425
11234
11525 - weak level of res IMHO but could provide support if we break
11620 - same as above
11680 - major res
11881 - lol imagine if we get here
11280
11234
10877
11075

All done using 1 and 5 min chart. 30 min just gives you an overall picture of long term direction. They are good to play when market spikes though. So if you see market tank, may be good to place fill orders at those levels.

 

[Splitlink]

This is something like the SNB case, back in January. The SF was allowed to float, catching a lot of people short, and he SNB got the blame for it.

Those countries who wanted to team up with the Germans to form a Euro are,surely, not completely stupid, are they? Are the Germans, amongst this lot, the only country that knows how to look after its own interests?

How did the Greeks get to borrow all those billions? Now, lets face up to the fact, whether Greece stays or leaves the Euro won't make a bit of difference to the outcome.

There is no way that they will ever be able to pay that money back, especially if they were unable to repay the IMF the 1.6 (?) billion due last week. So, if they don't have it to repay and the lenders lent it, so they don't have it, either. Where the hell has it all gone?

Someone, somewhere, is incompetent and corrupt. People, in a democracy, at least, get the kind of government that they deserve.

 

[Dentalfloss]

into the open

 

[Dentalfloss]

chart is 5 min data shows the uptrend that started on 16th june
long column of "O" s with 19 shows the overbought unwind we had marked on Friday morning...price went down to test prev breakout point/aqua
tonights open
price could gap down into that big area of support underneath aqua..trend supp is 2099 area..there are plenty of horizontal supports there
or price bounces from aqua support
bears will be looking at the bounce for any weakness
wont know if bulls will keep control until we test 2020 area