Daily chart S&P

The S&P making a lower high this week, also making a rebound to the upward trendline (encircled). You don't see that in such a classical way. The question now is will the 50 SMA act as support. We will see.

daytrading
FDAX

TImeframes

Somebody asked me if I use the same time frames for my futuretrades and my position trades. So when an upward trend is existing in the daily charts, will I only go Long with the future?

I use two time bars on my charts, the 15 min and the 60 min. If an uptrend exist in the 60 min chart would I only trade long with a futurecontract? This would be in general a wise setup. In general because most of the time this strategy isnot working.

Why not?

Movements on the market are never lineair, are never straight up or down in a line. There in every bigger trend opposite movements and these can be very big by itself. On the DAX movements of 100 points in a two days trend are quite normal but within these days short positions can the best to trade. In fact this is a matter of risk management and moneymanagement, two most important keywords in trading.

Read more about timeframes here

daytrading
FDAX

5000 on the DAX, not anymore

I asked myself on 22 July , Will we see the 5000 on the the DAX? We did but after reaching these levels we have to see if todays movements are are just a temporarily setback or the beginning of a bigger movement downwards. I got the feeling the markets wanted to push up to these levels during the last months and weeks. We got there and we enter a new phase, maybe and probably going lower from here. The DAX now almost at 4900 losing almost 120 points in two days.

For stocktraders I recommend Trade Ideas Their tool is to alert you on certain stocks on preset conditions. Their site is full of tardersinformation and stuff to use. I will try to use it for futures and could use some help by it.

daytrading
FDAX

VOLUME

I have written about Volume in trading before, concluding that volume doesn't matter that much in futuretrading. But now I read a truly good contribution about the influence of volumeon trading from Brett Steenberger. His conclussion is in line with mine observation. But he is empahsising the importance of who is trading in combination with volume. I have to study his insights to fully understand what he is saying and will come back to this later.

The market maybe in a reversal phase now closing below the 5000 level but well above the lower border of the the range 4965 and 5000.

daytrading
FDAX