Awesome. IG's Weekly Pivot is 13258 [based on (O+H+L)/3 ] That would make an interesting spike.

Carpe diem: Intraday tactics for Dax and Dow

Revising the Elliot Count: Wave 1 - 5 waves down structure from the top 13533. Wave 2 - ABC wave structure. Wave (a) the corrective wave from yesterday's low completed at today's high Wave (b) could have completed with this recent low 13034. Wave ...

Carpe diem: Intraday tactics for Dax and Dow

Closed. Net +105

Carpe diem: Intraday tactics for Dax and Dow

Small short @ 13074 Edit: added @ 13087

Carpe diem: Intraday tactics for Dax and Dow

My wave count could be wrong... On the 1H timeframe, this morning's bottom could have formed (b) and subsequent top (c). Daily Open is the main barometer, 13087. Above is long, Below is short.

Carpe diem: Intraday tactics for Dax and Dow

Short @13084 Target Pivot and below. Looks like I was wrong about a further up move. Forming Wave (b)

Carpe diem: Intraday tactics for Dax and Dow

Bugger. Stopped

Carpe diem: Intraday tactics for Dax and Dow

2 longs AVG. @13112 Target 1: 20 pips Target 2: 40 pips R1 Target 13180

Carpe diem: Intraday tactics for Dax and Dow

I get what you mean, and I know about opens. My initial post started with trying to define what "Day Trading" means. One definition is to know the market you're looking at, eg. EURUSD, DAX, Bitcoin, etc and to learn which market influences it the ...

Carpe diem: Intraday tactics for Dax and Dow

This move is looking more like the beginning of Wave 2 (ABC). This particular leg up is wave (a). Am not trading it as against my bias (short). Would like to see it meet the 1H timeframe 100EMA to complete. B wave could complete anywhere between ...

Carpe diem: Intraday tactics for Dax and Dow

closed the small Long. Net +55 Need to get back to work. :-)

Carpe diem: Intraday tactics for Dax and Dow

If you can define the risk. NY open means what? If Asia and Europe have already taken price lower, then there is a chance on Pivot Point analysis that it's NOT going to go lower. Also I mentioned that the Elliot Wave count for Wave 1 down ( which in ...

Carpe diem: Intraday tactics for Dax and Dow

I'm using 4H. Just put a small long on. Could be catching a falling knife but its on previous day's daily pivot S3 level.

Carpe diem: Intraday tactics for Dax and Dow

DAX completing a 5 wave corrective move down, which I believe is starting a down trend. Wave 1. Now looking for a bottom this week (maybe today??) That will start an ABC pattern: reverse and make a new reversal top (a), drop to higher low (b), ...

Carpe diem: Intraday tactics for Dax and Dow

Guys [catempire and EddyL], one suggestion for you is to really nail the objectives of day trading. By this I mean: you have to embrace that any decision making framework is going to be flawed. To move away from the blind gamble, the direction of ...

Carpe diem: Intraday tactics for Dax and Dow

Thank you! I will check it out and try and study these envelopes

Carpe diem: Intraday tactics for Dax and Dow

Hi Parisboy, what chart software are you using? Is it online (that would be preferrable). Unfortunately, IG Index doesn't have much more on envelopes. I'm not sure how much equivalence there is with Bollinger, as medici has already mentioned. The ...

Carpe diem: Intraday tactics for Dax and Dow

I'm beginning to agree with you!

Carpe diem: Intraday tactics for Dax and Dow

agreed. closed shorts for small loss. opened longs same price Edit: The price is very uncertain. I have no news feed to really tell. Last hours have hovered around today's open, but Daily Pivot is a beckoning. Rejection of the low and reversal at ...

Carpe diem: Intraday tactics for Dax and Dow

Awesome! Thanks for sharing this. Without knowing the exact method - just extrapolating, it's similar to what I do on Bollinger Bands. On the 5MIN Dax chart, the top was confirmed when: a) price above green and white regressions b) green in lower ...

Carpe diem: Intraday tactics for Dax and Dow