Here's a video of my 2nd dax trade. Let me know if you like it and want to see more. I made a video of the first trade but it was a little boring. and I also made a longer video at the open but no trades. I did discuss my charts and workspaces on that one but it's 25 min long.
you must download it to your computer to see more than 7 minutes and the quality is much better too.
One more thought on the daily ES chart.. remember market makers likes to gap up above resistance in order to trigger all the buy orders there.
Let's say there's resistance and the market probably won't crack 1148. there's a ton of buy orders there. the market makers will gap the stocks up above the resistance, that'll trigger the buy orders. who's selling to them? the market makers. so if the market maker expects the market to go down, it's an easy way for them to add to their short inventory. and when the longs stop out they'll be selling which will fuel the move down.
go back over the charts and see how it works.
i'm not saying we're headed down, just saying to be alert for this kind of play.
ES daily chart. Momentum turned down creating triple peak bearish divergence. Double stochastic also turned down. The cycle shows a breakout of resistance which means an up trend. The next step is for the market to then start falling and get back in sync with the sinewave indicator. This is why I use the double stochastic during the periods when the sinewave is out of sync.
my chart changed a bit as a result of the rollover & continuous contract. But from what I saw following price, resistance was at 1148, they gapped it up and over that and we close down which as I said previously is bearish from a VSA point of view.
I also see divergence in the TRIN. I don't think this was the top, we'll likely test that again but I do think we're heading down for the next few days.
Here's an indicator I'm working on, I've tentatively named it the "Turning Point Oscillator".
It's usually early, which is ok for me because it tells me when to pay attention to the market and anticipate a turning point. Sometimes it signals the exact top or bottom. It always gives false signals at the open and leading up to the close.
When I first developed this I thought it was too good to be true. So I put it away and decided to take a look a week later and see if it held up. It did. and I haven't looked at it in a month, I forgot about it really. But it looks like it is pretty robust. I'm going to start testing it more seriously now and try to incorporate it into my trading.