Dax Journal 13/07/2017

17:14

I am looking at the delta divergence here and wondering (again) if there is any opportunity to go short developing here.

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15:40

Delta is plummeting and the support floor is close to breaking. The room below can open up a nice shorting opportunity, but finding the right levels is not easy. Bulls will be buying dips between 12500-12540. Bears will short the gap.

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12:42

Comfortably hit and look at where the doji formed….

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12:11

Potential pullback zone is this line.

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11:42

Still keeping busy fixing the code for this new dashboard. The alert is working. The refresh is working. It’s mobile friendly so refreshes there too. It’s accepting images, documents, links, text and mixed, so it’s very nearly done. Just ironing out a couple of creases.

As for the Dax, we have just pierced back inside the BB. We had a HH on price at 10am this morning but a LH on the oscillator. If we retrace down, then a typical target is the center line or the 1 standard deviation (in between the upper band and the center line)

I have curve fitted a fork, but I don’t yet know how reliable this is:

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10:15

Just written the article for today and I am reviewing the charts to look for a new strategy. My bearish strategy and setup from yesterday has failed. I don’t mind that. Nothing is certain in trading.

So this is the new idea (below)

We have two sets of lines, the bullish trend channel (with a parallel further to the right and another parallel at the bottom, just in view) and the steeper line pointing towards 12920 with a parallel much lower (which has no dashed extension line). The circle is an interesting area because it’s a previous rejection zone. It’s also the underside of a couple of important lines and represents 100% extension of the current breakout IF you assume that the breakout is 50%.

You could even say that we have an inverse head & shoulders pattern and the neckline has broken.

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9:15

We had guest host John FTSEman complete the webinar this morning, thank you John. Lots of useful techniques and tools were demonstrated there and he has very kindly offered to come back again. It would be great to offer some variety in the sessions and his experience is valuable.

Regarding the Dax trade from yesterday, it’s still going. It got to within a single tick of being stopped out, which is unusual, normally it’s the other way around. However, the Dax is looking strong at the moment. Therefore this one may will be stopped.

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