Swing Trades DAX/DOW/NQ/GOLD

GOLD +10p locked in last 5 lot
GOLD +13p locked in last 5 lot
GOLD +15p locked in last 5 lot
4 lot closed +19.5p
1 runner left/SL +15p

FLAT +15p last lot

RSSL Sh @ 1561.2
T1 +12p
T2 +25p 1 lot
1 runner left/SL BE
+20p locked last
+30p locked last
+50p locked last Price @ -0.5% now
+60p locked last

FLAT +60p last lot


Trgt 1550

Soft CFD buyer between 1545<>1550

DOW Sh @ 26.870
T1
T2 +28/30p 3 lot
1 runner left/SL trailing down

FLAT +20p last lot

-0.5% zone @ 800 BRN support so far

US in a Mid cylce slowdown.

Germany on the edge of a resession or already in it.

Many US companies (SnP 500) do trade with EU.

Slow down in EU will also slow down US

Hi Dane,

As I explained before:
1% move in the MDAX is a +/- 125p run.
1% move in the DOW is a +/- 270p run
1% move in the RUSSEL is a +/- 16p/160 ticks run.
1% move in the GOLD is a +/- 15p/150 ticks run.

So many more points to catch in a 1% DOW move then in a 1% DAX move.

Thats why I hardly trade the DAX in the US cash session.
DAX is a slow follower then and hard to trade

DOW L @ 26.882
T1 +14/15p 2 lot
2 runners
1 lot closed +15p
1 runner/SL BE

Trgt 940>950

900 BRN Res level

Back up to Fridays close 920

FLAT +39p last lot

Hi Dutchy,

Thanks for such a professional and insightful thread, it is really appreciated by myself and no doubt many other traders.

I note you occasionally trade gold and wondered if you had ever done any testing of % movement on gold and if so did you find it worked in the same way as you use in your trading for the indices?

Thanks

1. Lagarde has run the International Monetary Fund since 2011 and was selected in July to replace Mario Draghi on Nov. 1.
2. She says the tariffs that the U.S. and China have slapped on each other’s goods are set to shave 0.8% off global economic growth in 2020.
3. “I think trade — threat against trade at the moment — is the biggest hurdle for the global economy,

Hi likeasunrise,

Like you say, I trade the Gold occasionally on CFDs only.
So far I have no Gold Future data (yet) on my Ninja platform. Therefor also no Market Profile levels.

I simply trade the Gold on the Ichimokou indi.

But on the CFD platform I have the %% levels programmed.
As Gold close I use the same time point as the US RTH/Cash close. I'm not sure if that is correct.
Because of that lack of knowledge I didn't check the %% levels (as I use them now on the Gold CFD chart) very seriously.

I remember there are 2 Gold markets/opens. One in London and one in the US.
If that is correct there should be also 2 different closes.

Since the %% levels are calculated from the previous Day close, I'm confused what time to use as close.
As you maybe noticed: I'm not that good informed re Gold trading times.

For the time being I will use the US cash markets close to calculate the Gold %% levels for the next Day.
I will try to look into this matter a little deeper the coming time.

Today the Gold moved up to +0.5 % calculated from Y US cash close. There I closed my last CFD lot.

I will keep an eye on it how and if my current %% levels make any sence.

Thank you for the response Dutchy and that is very interesting regarding two opens/closes. I will do some investigating on that myself also and feedback on what I've managed to establish. Thats a pretty essential bit of information I believe. Also it may be necessary to test on both closes and compare.


Until then I will follow your example. From the small amount of 'primitive' back testing I've done so far it did appear there may be some correlation, but to be honest I was unsure as to where to start I'm keen to see if your methodology of using the % works with gold.

Cheers, off to bed.... its the middle of the night here in Brisbane

No problem likeasunrise....some of us are pajama traders, as we talked about it with Dutchy on August .....

Goodmorning

DAX is on the Sell/Bearish side of my Swing MA lines and below the Ichi cloud, but in a sideways range. Jumps all over the place.

Price right between 2 N Weekly POCs

Swing lines are crossing down, so I'm more tend to look for shorts, but as said a jumpy scalp zone.

German IFO top of the Hr.

DOW slowly moving down. Price below last W POC
Swing MA lines crossing down. Could be the beginnig of a down trend (same as the DAX)

26.800<>700 is a support zone.. If that zone is broken we could see a sharp dive to 26.400<>300/-2.0%, but on very disturbing news only

For now the playfield is 26.900<>27.100

 

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3. Since its founding 70 years ago, the country’s trade and investments with the world have increased tremendously.

https://www.cnbc.com/2019/09/24/how-...-70-years.html

Likely waiting for IFO. Little scalping up/down

GOLD Long again (re entry/light trading) @ 1521 CFDs
SL 1518<>1520

1525 Res zone

Trgt 1528/30

1544 Monthly Res level IG CFD charts

Spot Gold and Silver Market Hours

Spot gold and silver trading is available 23 hours a day from 10pm GMT Sunday through 9pm GMT Friday. Trading is closed from 9pm to 10pm GMT daily. Spot gold and silver trading also follow CME holiday closures.

The London Metal Exchange (LME) is a futures market that hosts the highest volume of gold futures trading in the world. The LME permits traders and investors to buy and sell contracts that call for the future delivery of gold three or more months in the future. The LME also allows for the trading in the “spot” or cash market for gold means that all such transactions are conducted at the most current price for gold

New York is another city that is important as world financial centre. In the U.S., most of the buying and selling of gold and its derivative products takes place in New York City. The dominant gold trading exchange in New York City is the New York Mercantile Exchange (NYMEX), home for trading of gold futures contracts, energy futures, and futures contracts for certain soft commodities. The NYMEX is split into two divisions, one of which — the COMEX (Commodity Exchange) is the principal market on which New York gold futures contracts are traded.

Located in the city of Shanghai, China, The Shanghai Metal Exchange (SHME) is a non-profit, self-regulating corporation that was created to bridge the gap in trading hours between the London Metal Exchange close and the New York Mercantile Exchange opening. Thus, the (SHME) enables a 24-hour market for gold trading to exist. The SHME is presently the largest precious metals exchange in China and the third largest overall in the world.

The Dubai Gold & Commodities Exchange otherwise known as the DGCX was established in 2006 and as the name suggests, it is located in Dubai, the United Arab Emirates. The exchange facilitates the highest volume of buying and selling of gold and derivative products in the Middle East.

Global Gold Trading Hours

Unlike other commodity markets, the international gold market is a global market that operates on a 24hr basis, allowing investors to trade gold at any time. Here are some of world gold market trading hours -Greenwich Mean Time (GMT) and Local time.

Time of US-New York gold market
Opens at 8:20am and closes at 1:30pm (local time)
Opens at 13:20 GMT and closes at 18:30 GMT
Time of US-New York Electronic Trading
Opens at 6:00pm and closes at 5:15pm (local time)
Opens at 23:00 GMT and closes at 22:15 GMT

Time of UK – London gold market
Opens at 8:00am and closes at 5:00pm (local time)
Opens at 8:00 GMT and closes at 17:00 GMT

https://www.regulatedbroker.co.uk/gold-trading-hours/

Since the GOLD market is an almost 24 Hr markets I will use the same close time as US markets, to calculate the %% levels for the next Day.
If the %% levels will work for the GOLD as well, as they do for the Indexes, time will tell.

DAX Short try @ 342. Price remains below the 50

T1 +10p 2 lot
2 runners/SL BE zone
T2 +15p 1 lot
1 runner left/SL BE
FLAT BE last lot

Trgt 12.300 BRN & -0.25%
-0.5% @ 12.270

Price @ Y close. "GAP closed"

Closed BE trade. No 1524/25 up cross

Poss Short below 1519