Trading the Dax

[Swisstrader9]

I know it sounds fishy but here is a nice break out strategy using the first impluse at the market opening at 9am CET. You can also use it for the FTSE of course.

Have a look: https://www.youtube.com/watch?v=_NjA7Mi7itM&list=PLJb-1CrKSkigVX2sOg1TLxZujLMT5Gvdo&index=62


There is also a daily live trading room if you want to have a look

 

[foroom lluzers]

Yes I see what you are saying. I also want to go long overall but I see the support at 11850. So I'm short only until that level. If I see an entry, if not just wait for the right long play.

On 1hr chart , can see a wick a the top of candle bar, I'll see what the price action is showing at 12 noon (so the 11am candle bar) to see if confirmation of short.

I said before short maybe at 12041 area so lets see if it plays out.

Market timing is difficult

http://www.trade2win.com/boards/edu...22-what-happens-when-you-try-time-market.html

 

[tablemountain]

Earlier I said short area 12041

10am candle bar on 1hr chart closed with a long wick. (sellers pushing down?)

I initially said wait for next bar, see what happens, or wait for confirmation of short. Waiting meant I missed the short.

At 2pm lowest DAX had been was 12004.1, then it moved back up.

if you got in, on the close of the 10am bar at 12038, you could have potentially got a profit at around 12004.

But what do you use to enter? 1hr chart? 5 min chart? any indicators to go with it? (on 1hr chart 10am candle was on bollinger high/extremes and stoch on its highs, use these to re-enforce short entry?)

My view still long for DAX- have the bulls come in and nullified my support of 11850 and is it wise to go long now before the rally up starts?

 

[tablemountain]

Look carefully at the wick of the last candle before the big bearish candle. Ask yourself what is price action telling you.

This is where your short should have been triggered


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yes i can see how I missed the short, also my short of 12041 was wrong. I should have seen the longer wick and put my res line higher

advantage of 1hr chart beginning to show itself.

But how to enter? On the close of the bar? if so short would have been 12038 and lowest it would have gone was 12004. On my CFD account I would have nicked a few but maybe not worth the stress and risk? (taking into account spread etc)

and what signals my get out? because only in an ideal world I would have got out at the extreme low, if i got out higher say 12010 or something it would maybe not have been worth the risk.

all research and studying to do.

 

[dashdbn]

I was so tempted to take a long at 12060 for the potential bounce tomorrow but I did not.

You can use RSI stoch or any indicator however, they are lagging. Learn price action and how to draw sup and res.

Example there is some big res at 12080 if I remember correctly. Look at the size of candel that will brake that res.


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[tablemountain]

Here is an example of a forex chart. Apologies to everyone else as I know this thread was supposed to be about trading the Dax but , this important.

Look at the size of the candles that were needed to break support and resistance.

Can you explain why I went long?


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alot of lines!! I get what you mean what breaks sup and res.

what confirms sup and res? wicks? or thick bars hitting a price which has previously been rejected or held?

Anyway, to answer your question, if you got in long at 13.26144 because of the 2 candle bars showing sup, neither of them had wicks, they were thick at the bottom, one small the next one 'tall' with a strong upward movement, this could be your reason for long, so as soon as that price hits you go for it and see it go up (or do you wait for the candle bar to end and see the wick then get in?)

 

[dashdbn]

There was a small trading channel there. Going to post a link for you to watch on YouTube it will really help


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[dashdbn]

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[tablemountain]

looks like support is holding higher then my level of 11850.

No shorting this anymore, just look entry long below 12000.

1hr chart shows support at 11961 area.

Below 12000 shows its good for long.

Ideally wait for something around 11961 or lower.

 

[dashdbn]

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[tablemountain]

Today I was looking to short DAX , because it went 'so high' or 'made a new high'

no decent price action confirmed the short, and in any case it was counter trend, one of my rules, that I must stick to, don't trade against the trend. On the 1hr chart, from 6am onwards, all the candle bars were thick strong bullish bars, to short against this is not only risky but maybe stupid?

Tomorrow if price action and trend says long, i'm going long, as for shorting new highs.......I might have to avoid this.

p.s. I know this isn't an oil thread, but look at oil today (light crude), perfect daily trend showing short, 1hr chart showed at 10am and 11am 2 red candle bars, one with a significant wick showing sellers came in to push it down. if you got in on the close of that bar, you would have seen a nice trade with profit and little/no offside. Just mentioning this, as a way to back up not to go against trend, and to use price action to confirm your trade

 

[dashdbn]

Still holding shorts from 500


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[dashdbn]

Closed l shorts


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[dashdbn]

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[dashdbn]

Long is tempting


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[foroom lluzers]

580 ticks profit

 

[dashdbn]

Top stuff


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[tablemountain]

Been a while, things have kept me from trading full time recently!

So I'll start posting here again.....i have followed DAX a bit in the last week or so and noticed that woooh there was money to be made going long!!!

- Daily shows DAX as being a bullish market overall

- on 1 hr chart I've noticed 2 areas of support where I can long, I don't trade on price alone but rather 'price area' with a 5 min entry strategy

- I'll look to go long at first 12700 and then 12600 price area, depending what price action tells me

- if i get an entry I'll post it and shows its results

 

[dashdbn]

Hi. You are correct. It has been a while.

While I do think this is a bull market dax, is due a correction. I am still holding shorts from 800 some change. I think the French election was a little over done.

It was a case of buy the roomer cell the news.

I am still expecting that gap at 12,100 on futures to close at some point.


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[tablemountain]

Hi. You are correct. It has been a while.

While I do think this is a bull market dax, is due a correction. I am still holding shorts from 800 some change. I think the French election was a little over done.

It was a case of buy the roomer cell the news.

I am still expecting that gap at 12,100 on futures to close at some point.


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I'll wait for price action to confirm that, if you are short at 800 then if my analysis is right then you will make money at 600 (and possibly even lower!!)

if tomorrow closes lower then 12700 then I'd see the daily as a short trend but have to wait and see....!