FTSE, DAX, DOW Trading Ideas and discussions

[Atilla]

Morning guys,

Late start feeling a little hot and cold, maybe going down with something. Slept well though.

DAX - 4H Charts - PP Daily Levels

Testing the bulls and looks like the overnight action has virtually taken us to S3 @ 9898 which I would say has to be our target for a bounce off that level. Highlighted PP0 and PP-S3 levels coincide with Fib retrace levels too, so to me that makes them double significant.

Effectively 300 pip range between 10200 - 9900

I'd say we've had the LL followed by the LH to 10380 @ R2.

So now the BIG test has to be will DAX make a LL or HL ???

That 9500 looks tempting. :cheesy:

 

[Dentalfloss]

a nice little touch into our 1925 area..actually 1926 and a bounce
bulls need to hold taht area
10k area holding on dax..so far

 

[Atilla]

SPX - 1H Charts - PP Daily Levels

Interesting capture of H&S reversal pattern observed few days ago has played out to full text-book theory. Rose by the same length as the vertical neck line (blue) from breakout and then turned back down again. Maybe just seeing patterns but there you go.

SPX looking OS on the short TFs but expecting todays range to be between:

PP @ 1968
S3 @ 1913

1925 may still be valid as key R/S area too.

Maybe it's a September thang that has the markets spooked. I'd be well spooked too in these crazy hyped up times.

 

[MichaelJohnFX]

China PMI numbers.

 

[MichaelJohnFX]

Loads of horizontal sup in that 9000 area

 

[MichaelJohnFX]

On the 10 mins chart, bears are running out of steam, at least until the U.S. Session. If we hit 9000 could see a 100 point rally to 10,000. Can't post chart

 

[MichaelJohnFX]

Anyone know any decent books on price action?

 

[Dentalfloss]

Anyone know any decent books on price action?

that is the 64k question
there is none...lol
charts are detrermined by inputs

 

[Dentalfloss]

inputs are either time based...candle/bar
or non time based...p/f,Renko or range bars

 

[Dentalfloss]

based on that ...do you want to see the price action based on time or actual price movement ??

 

[Dentalfloss]

therefore you must opt for one option...lol
all these guys who say they are teaching you price action....

 

[Dentalfloss]

Duplessis...the p/f guy always divides his charting method as time input or price movement input
price input always takes the higher priority
even Elliot is time based
anyway..in my mind..price action is about plotting price movement and cannot be time input based

 

[Dentalfloss]

pure price action is dependent on inputs
ie...change in price
trend
so anybody teaching other methods is going about it the wrong way
i am always talking about trend..lol nothing else matters

 

[f2calv]

Duplessis...the p/f guy always divides his charting method as time input or price movement input
price input always takes the higher priority
even Elliot is time based
anyway..in my mind..price action is about plotting price movement and cannot be time input based

Random fact, I went to school with his son :smart:

...sadly I had no idea what he did at the time else it might have been handy... having said that he was quite unapproachable.

 

[Dentalfloss]

dax
since 5pm yesterday

can you see the trend ??

 

[Dentalfloss]

Random fact, I went to school with his son :smart:

...sadly I had no idea what he did at the time else it might have been handy... having said that he was quite unapproachable.

all the stuff is in his two books...dont need anything else

 

[f2calv]

dax
since 5pm yesterday

can you see the trend ??

tbh looks like its due a 500pt bounce right? :innocent:

 

[Dentalfloss]

decent scalps out of that 1923 area
we had 1925 area marked earlier

 

[MichaelJohnFX]

Haha thanks Dentist. Point taken

 

[Dentalfloss]

tbh looks like its due a 500pt bounce right? :innocent:

no...not yet
needs to break the trend first