MaryJane

Little Consolidation ahead?

FX:GER30   DAX index of German listed shares
1376 63 57
4 months ago
Dax             is trading near it`s upperedge of the blue counted uptrend. Perhaps at that Level Dax             will make a Little break on it`s main way up to 10.400


The microstructure seems to be a bit stressed out....several candles out of the BB`s! Typical would be a retest of the flags breakout Niveau - here the orange arrow..dip to the min. fibo @ 10.022. The Region between the other fibos 9976-10.022 are potential buying Levels if you believe in further highs.
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4 months ago
Trade active: example intraday short...the rsi is strong overbought, but there is no selling sign at the momenthttps://www.tradingview.com/x/81ci2sb8/
4 months ago
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4 months ago
Comment: any ideas? any comments? what are your patterns for today dear followers
4 months ago
Comment:
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27 Points for breakfast are ok :-)
4 months ago
Comment: scalpers: don`t Forget to trail your stop!
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4 months ago
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more that 450 Points...in this trades i tend to half the Position..rsi now generates a sell Signal in this timeframe
4 months ago
Comment: 1 min Chart:
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this possible H&S could dax drop to the tp :-)
4 months ago
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2 clear Action Points in this timeframe ..sell the test of the upper edge or buy the breakout....buy the bottom edge or sell the breakout
4 months ago
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4 months ago
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4 months ago
Comment: a follower asked me where to open the shortposition..here was my example. half Position opened at 10.084 (half - because we haven`t reached the mentioned upper Action Point) ..then adjusted the stop
4 months ago
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stop reached ... the next 19 points
4 months ago
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4 months ago
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wow
4 months ago
Comment:
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the rsi told the truth this morning - now he signs a oversold Situation..we have reached all fibos
4 months ago
Comment: The RSI in combination with the fibos made a good job today. The holy 61.8 fibo was bought directly, now the today really strong market seems to wanna break out and make a new green 22" Prices above the highs of today have to been seen as strong bullish in that timeframe. Those who want to trade against the trend could fix that level with sl a bit higher than the highest high (@ 10.098)
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4 months ago
Comment: it seems to be breakout-time .. -but beware of the RSI :-9
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4 months ago
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adjusted view..same scheme
4 months ago
Comment: nice triangle Situation
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4 months ago
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nice flag now
4 months ago
Comment: now or never...flag....now a inverse H&S..will this H&S trigger the flag? 10.060- 10.070 is hard to beat!
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Only prices above 10.070 will activate these pattern, Prices below 10.028 will damage that setup
The shown position is a pending stoppbuy order, not active at the moment
4 months ago
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here is the breakout..if there is no more power behind it it could be a fake...i will see more volume
4 months ago
Comment: there is no power behind the move..perhaps the 10.070 hurdle is too high in front of the weekend
4 months ago
Comment: here are no more buyers at this moment ..the candles sign it:
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4 months ago
Comment: adjusted flag, still the same triggers H&S is passe.
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4 months ago
Comment: no matter what it really ios, it is definetely an intereesting action point ...good for shorts or longs , both sides are justified ..perhaps it is the next shortchance...
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4 months ago
Comment: there seems to be no power any more - weekend-style - a propos weekend: have a good one! c u
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4 months ago
Comment: Here are the levels to watch - potential action points
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4 months ago
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here we go..the next breakout is in full swing..the RSI signs a temporarily top in that shortterm timeframe
4 months ago
Comment: Perfect!
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Krasen
4 months ago
I dont believe in future higns
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zen
4 months ago
greatly appreciate your write up. i learned alot today and your postings helped me to recover a loss.
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zen
4 months ago
i"m not banking on the 1 m h&s. but i"m eager to see if it plays out. it does not look so clearly defined to me.
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MaryJane zen
4 months ago
yes, i am with you..it is not clearly defined....but the "neckline" turned out to be a valid supportlevel....the possible H&S got not triggered ...and now is history :-)
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zen MaryJane
4 months ago
any way, good catch. :)
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andras1229
4 months ago
nice work
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zen
4 months ago
i am a little more biased towards upside, simply because spx doesnt want to stop. and trend continuation. but we climbed a gigantic mountain already... so who knows.
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MaryJane zen
4 months ago
me too....but dax is really underperforming against s&p ...the upmove the last days we have seen was very strong and it would be healthy, if the index would make a Little break on his way up - perhaps to the breakoutniveau @18.070 respective the 38,2 fibo @ 17.880 ..let`s see
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zen MaryJane
4 months ago
your logic sounds reasonable, and i would happy to see something like that happen. it would give me a better feeling operating in this markets. it must happen sooner or later anyway. my paranoia just tingles and i fear that we will see exuberance and greed driving this higher. i like your chart.
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zen MaryJane
4 months ago
bank of england may brought the relief this time i think.
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sommer1525 PRO
4 months ago
The BIG dip was a reaktion to Bank of England - Think you plan still holds :-) And thanks for showing, I follow closely and learn - I hope
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Chartsmith
4 months ago
Did anyone else buy that dip? :)
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MaryJane Chartsmith
4 months ago
If you have bought it -Congrats!
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MaryJane
4 months ago
Settlement today @ 10.000? It seems so...
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Chartsmith
4 months ago
Thanks for the updates!!
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zen
4 months ago
greatly appreciate your work, wish you much success for the rest of the day and have a nice weekend.
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MaryJane zen
4 months ago
@ Chartsmith& zen: thx a lot..the us market is getting weak now....it s getting "dangerous" for longs...a healthy consolidation is long overdue...but let`s see...these days we have seen every day a new ath...why not today again? the djy0 breakout is in full swing 8daily)
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MaryJane MaryJane
4 months ago
its not possible to illustrate the dow jones intraday...here you could see a H&S in the intradaychart
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MaryJane MaryJane
4 months ago
trigger below 18.530
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MaryJane MaryJane
4 months ago
The RSI still signs further upwarts-chance, we are not oversold yet
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zen MaryJane
4 months ago
yeah we're on the same page on that one. i suppose the human volume in the market needs a sound sleep over the weekend, therefore i see some sell pressure due to long position closing.
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bluecode
4 months ago
short now?
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MaryJane bluecode
4 months ago
with sl 10.075 it perhaps a nice chance...a nice crr
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MaryJane MaryJane
4 months ago
the mentioned sl is only good for a scalp-try....for positioning i mean 10.104 could be nice as sl level
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MaryJane MaryJane
4 months ago
but its a scalp against the trend in the shown imeframe..very! risky
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MaryJane MaryJane
4 months ago
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MaryJane MaryJane
4 months ago
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scalp tps= fibos...two already reached
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MaryJane MaryJane
4 months ago
i would close a scalp here..for position trade let it run with a sl 10.075
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MaryJane MaryJane
4 months ago
if u havent`t closed the scalp i would trail the stopp like that
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MaryJane MaryJane
4 months ago
nice example to show how to adjust the sl, to save the position-win
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MaryJane MaryJane
4 months ago
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MaryJane MaryJane
4 months ago
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MaryJane MaryJane
4 months ago
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scalp stopped out with this method ( u use it if you want to catch the trend...) fictive entry was 10.070 - initial sl 10.075 last stopp 10.053 --> 17 points-scalp..nice!
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andras1229 MaryJane
4 months ago
what does it means these numbers (2,3)?
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MaryJane andras1229
4 months ago
Introduction into 1-2-3 Trading Pattern
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andras1229 MaryJane
4 months ago
what is it?i dont know,sorry
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MaryJane bluecode
4 months ago
did you short it?
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andras1229 MaryJane
4 months ago
no,i was long
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andras1229 andras1229
4 months ago
10050-10070
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Boumrah
4 months ago
is it time to short ?
Short the breakout
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MaryJane Boumrah
4 months ago
seems to be a good idea...above 10.110 ist´s getting more and more dangerous for shorts, above 10.165 it would be fatal to be short in that timeframe...below 9888 momentum turnes bearish
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Boumrah MaryJane
4 months ago
because we have a bearish divergence on Dax,i will set a sell stop order @ 9970
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MaryJane Boumrah
4 months ago
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RSI! a little upmove should be exspected
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MaryJane MaryJane
4 months ago
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MaryJane MaryJane
4 months ago
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you can see that the momentum decreases (mangenta)
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Boumrah MaryJane
4 months ago
but i think below 9970,then any upmove will be a correction
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MaryJane Boumrah
4 months ago
i am with you....the momentum only turns bullish again, with prices above 10.100
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MaryJane MaryJane
4 months ago
possible shorts
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MaryJane MaryJane
4 months ago
possible longs
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MaryJane MaryJane
4 months ago
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MaryJane MaryJane
4 months ago
9980 seems to be a reliable supportzone at the moment..but i exspect we break through it
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MaryJane MaryJane
4 months ago
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MaryJane MaryJane
4 months ago
count....
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MaryJane MaryJane
4 months ago
the risk loving trader is buying that support @ 9980 for a scalp - i am just interested in the breakout move below the support...trying to catch a few dax points...
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Boumrah MaryJane
4 months ago
in my opinion,it is better to wait for a pullback in wave B,then Short the C wave
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MaryJane Boumrah
4 months ago
that was a nice scalp - dax reached the bottom edge of the illustrated shortterm trend...more than 30 points for 2. breakfast are good :-9 i feel comfortable with catching the breakouts directly....i open half of the position directly with the breakout, and then i wait for a possible rosshook like you have illustrated it o double the position size. if you always wait for a retest it could happen, that you will miss the bus - and thats nasty when your idea is right, but you get not filled... :-)
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MaryJane Boumrah
4 months ago
but i am with you....the rsi also signs a oversold situation, a retest of 9970-9980 could come now
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MaryJane MaryJane
4 months ago
will the downmomentum now accelerate?
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only prices above 9957 will open the possibility to retest the breakoutlevel @ 9970
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MaryJane MaryJane
4 months ago
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MaryJane MaryJane
4 months ago
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MaryJane MaryJane
4 months ago
reached max. tp H&S ...
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MaryJane MaryJane
4 months ago
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MaryJane MaryJane
4 months ago
The RSI told the truth again..
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