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

  #611 (permalink)
Market Wizard
UTRECHT/The Netherlands
 
Trading Experience: Intermediate
Platform: Ninjatrader
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Favorite Futures: Cac40, FDAX, ES, RTY, NQ, YM
 
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Morning market prep

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.

If the breakdown is confirmed, then DAX is very likely to retest the Christmas low as the structures and cycles are both complete.
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  #612 (permalink)
Market Wizard
UTRECHT/The Netherlands
 
Trading Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Interative broker, Kinetick
Favorite Futures: Cac40, FDAX, ES, RTY, NQ, YM
 
Posts: 613 since Dec 2016
Thanks: 8 given, 246 received
Forum Reputation: Legendary

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.


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  #613 (permalink)
Market Wizard
UTRECHT/The Netherlands
 
Trading Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Interative broker, Kinetick
Favorite Futures: Cac40, FDAX, ES, RTY, NQ, YM
 
Posts: 613 since Dec 2016
Thanks: 8 given, 246 received
Forum Reputation: Legendary

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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  #614 (permalink)
Market Wizard
UTRECHT/The Netherlands
 
Trading Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Interative broker, Kinetick
Favorite Futures: Cac40, FDAX, ES, RTY, NQ, YM
 
Posts: 613 since Dec 2016
Thanks: 8 given, 246 received
Forum Reputation: Legendary

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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  #615 (permalink)
Market Wizard
UTRECHT/The Netherlands
 
Trading Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Interative broker, Kinetick
Favorite Futures: Cac40, FDAX, ES, RTY, NQ, YM
 
Posts: 613 since Dec 2016
Thanks: 8 given, 246 received
Forum Reputation: Legendary

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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  #616 (permalink)
Market Wizard
UTRECHT/The Netherlands
 
Trading Experience: Intermediate
Platform: Ninjatrader
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Favorite Futures: Cac40, FDAX, ES, RTY, NQ, YM
 
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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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  #617 (permalink)
Market Wizard
UTRECHT/The Netherlands
 
Trading Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Interative broker, Kinetick
Favorite Futures: Cac40, FDAX, ES, RTY, NQ, YM
 
Posts: 613 since Dec 2016
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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.


Reply With Quote
 
  #618 (permalink)
Market Wizard
UTRECHT/The Netherlands
 
Trading Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Interative broker, Kinetick
Favorite Futures: Cac40, FDAX, ES, RTY, NQ, YM
 
Posts: 613 since Dec 2016
Thanks: 8 given, 246 received
Forum Reputation: Legendary

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.


Reply With Quote
 
  #619 (permalink)
Market Wizard
UTRECHT/The Netherlands
 
Trading Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Interative broker, Kinetick
Favorite Futures: Cac40, FDAX, ES, RTY, NQ, YM
 
Posts: 613 since Dec 2016
Thanks: 8 given, 246 received
Forum Reputation: Legendary

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).



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.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Reply With Quote
The following user says Thank You to shrekchenbin for this post:
 
  #620 (permalink)
Market Wizard
UTRECHT/The Netherlands
 
Trading Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Interative broker, Kinetick
Favorite Futures: Cac40, FDAX, ES, RTY, NQ, YM
 
Posts: 613 since Dec 2016
Thanks: 8 given, 246 received
Forum Reputation: Legendary

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 04:48 AM.
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