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Daily TPO homework for DAX and NQ
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Daily TPO homework for DAX and NQ

 
Elite Member
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5080 has proven to be a formidable resistance for Cac.
With that clear line in the sand in place, we could work out the risk reward of our shorts with no ambiguity.
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shrekchenbin View Post
DAX has made a three weeks top above 11000 key level.
The break out above 11000 is now in jeopardy that the false break top is found at 11380 and with the strong bearish momentum accumulated yesterday, DAX is on the verge of taking out the 11000 major level very soon.


 
 
Elite Member
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NY session pre-market prep

I am going to look toward Russell for more bearish leadership.
A nice target is the volume node accumulated early last week around 1475 level.
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Morning market prep


Market at a cross road since ES has tested the 200D MA and found a reaction there.
The reaction in the European equities has been more dramatic.

However, the bears were not able to gain a solid follow through on Friday and the bears are losing their initiative.
If the bears failed to hold the 200 day MA, then the melt up would continue and the price is likely to get squeezed above 2750 toward 2780 area.
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Elite Member
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Morning market prep

Cac is targeting a poor high and unfinished business at the old 5080 resistance.
It is very likely that the 5080 is going to be taken out today and the next resistance in line is 5120 and then 5150.

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A small M top is in DAX.
The 100% extension is going to get DAX to 11100 below yesterday's poor low.

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A full extension (200%) of that M top is going to bring DAX to 11045 at the weekly pivot level.
That could be the big down side target of the day for DAX.
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shrekchenbin View Post
A small M top is in DAX.
The 100% extension is going to get DAX to 11100 below yesterday's poor low.


 
 
Elite Member
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Bouncing from 11120.
It could be a genuine bounce, or it can just be a trap.
Weak structure below, not a good long for me.

The Market maker should be seeing the pool of stops behind the poor low.
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shrekchenbin View Post
A full extension (200%) of that M top is going to bring DAX to 11045 at the weekly pivot level.


 
 
Elite Member
UTRECHT/The Netherlands
 
Trading Experience: Intermediate
Platform: Ninjatrader
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Favorite Futures: Cac40, FDAX, ES, RTY, NQ, YM
 
Posts: 644 since Dec 2016
Thanks: 8 given, 271 received

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shrekchenbin View Post
Bouncing from 11120.
It could be a genuine bounce, or it can just be a trap.
Weak structure below, not a good long for me.

The Market maker should be seeing the pool of stops behind the poor low.
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Elite Member
UTRECHT/The Netherlands
 
Trading Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Interative broker, Kinetick
Favorite Futures: Cac40, FDAX, ES, RTY, NQ, YM
 
Posts: 644 since Dec 2016
Thanks: 8 given, 271 received

Morning market prep

Yesterday the poor low has not been run by the market maker, which says a lot about the strength of the market.
In fact, around lunch time the order flow was showing clear intention to assault the poor low to run liquidity.
But all those market sell orders are absorbed like sponge.
It is likely that a big fish has stepped in defending their holdings from 11120 level.
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Last edited by shrekchenbin; February 14th, 2019 at 03:48 AM.
 
 
Elite Member
UTRECHT/The Netherlands
 
Trading Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Interative broker, Kinetick
Favorite Futures: Cac40, FDAX, ES, RTY, NQ, YM
 
Posts: 644 since Dec 2016
Thanks: 8 given, 271 received


Yesterday's price action in DAX has turned a bull flag formation.
NOw it is ready to challenge the 11400 resistance fairly soon.

We can gauge the strength of the market by how it interacts with 11300 resistance.
Bear in mind that the round number is never the final destination, 11280 and 11320 can usually be the liquidity pool.
I will monitor closely the order flow around/at those levels.
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shrekchenbin View Post
Yesterday the poor has not been run by the market maker, which says a lot about the strength of the market.
In fact, around lunch time the order flow was showing clear intention to assault the poor low to run liquidity.
But all those market sell orders are absorbed like sponge.
It is likely that a big fish has stepped in defending their holdings from 11120 level.


The following user says Thank You to shrekchenbin for this post:

 



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