Joules MM1
I have been looking at those fibs... you mentioned...
if as you say this is just a counter trend rally
infact drawing a fib down from the 8137 high in Mar 2000 to the low
of Mar 2003 we have retraced 50% of that allmost to the point
also the Mar 03 lows to the recent high..23.6% retracement of that takes us back down to 4443..is that where you get 4456- 4516 from as a smallish band above that
Unless I am barking up the wrong tree
David
I have been looking at those fibs... you mentioned...
if as you say this is just a counter trend rally
infact drawing a fib down from the 8137 high in Mar 2000 to the low
of Mar 2003 we have retraced 50% of that allmost to the point
also the Mar 03 lows to the recent high..23.6% retracement of that takes us back down to 4443..is that where you get 4456- 4516 from as a smallish band above that
Unless I am barking up the wrong tree
David
Following on from last night..Dax seems to have support in the 4800 area..
small long at 4797
However heeding another posters advice
am now looking for a medium term short
but we will need to see some strength though before
I am comfortable with that
small long at 4797
However heeding another posters advice
am now looking for a medium term short
but we will need to see some strength though before
I am comfortable with that
Very useful information thanks for taking the trouble to post it
Probable retracement on Fibonacci..
based on the recent high is giving us 4450 to 80 area
also we are nicely in the middle of a daily downtrend at the moment..
the low of which is the 4700 area
though we are currently getting support from the end August lows that could keep us in the 4760-90 area for a while
I am therefore looking to establish a low risk medium term short...
this mornings high of 4820 would have been a good area
and 4860 before that
I suppose I am waiting for some strength to sell into
so that I can ween myself off the pinch hit mentality
David
Probable retracement on Fibonacci..
based on the recent high is giving us 4450 to 80 area
also we are nicely in the middle of a daily downtrend at the moment..
the low of which is the 4700 area
though we are currently getting support from the end August lows that could keep us in the 4760-90 area for a while
I am therefore looking to establish a low risk medium term short...
this mornings high of 4820 would have been a good area
and 4860 before that
I suppose I am waiting for some strength to sell into
so that I can ween myself off the pinch hit mentality
David
great posts
thats is a lot to take in
especially on a Friday
watching 4810 closely...
keeps bouncing off it..post figures..
but personally dont feel it will hold
Taken out at short at 4820 the post
1:30 US figures high...
Would be great to have targets.. to work to
put trade one and stops around
I certainly want to move away from
the "smash and grab" mentality
of quick trades...that leave so much more on the table
thats is a lot to take in
especially on a Friday
watching 4810 closely...
keeps bouncing off it..post figures..
but personally dont feel it will hold
Taken out at short at 4820 the post
1:30 US figures high...
Would be great to have targets.. to work to
put trade one and stops around
I certainly want to move away from
the "smash and grab" mentality
of quick trades...that leave so much more on the table
4833 the 161.8 fib
and support level of these
last 10 days which was taken out yesterday
now showing itself as resistance
two attempts at getting past that
level so far have failed
added to my short at 4830..perhaps this part at least could be my
longer term position..
this going back to test a level just broken and subsequent fall away
coupled with the fib level
has to be a powerful reason to establish shorts
at this level...
and support level of these
last 10 days which was taken out yesterday
now showing itself as resistance
two attempts at getting past that
level so far have failed
added to my short at 4830..perhaps this part at least could be my
longer term position..
this going back to test a level just broken and subsequent fall away
coupled with the fib level
has to be a powerful reason to establish shorts
at this level...
I can see that came off the 161.8 fib perfectly...
Your prices are slightly different to mine on the CMC chart
with me using the "ukindex cash bid" chart
for the same 3 month time frame 15 min bars
CFD Bid...chart
not one of CMC's standard charts perhaps
Your prices are slightly different to mine on the CMC chart
with me using the "ukindex cash bid" chart
for the same 3 month time frame 15 min bars
CFD Bid...chart
not one of CMC's standard charts perhaps
Doing a few short term "in and outers"
to get back the loss made from
establishing a medium term position
just as the market turned...
on Friday
Short Dax from 4899
though mindful of 4908 38.2 retracement of recent fall
and top of the range we fell from on 26th
it will definately be a market target today
EDIT target hit....
to get back the loss made from
establishing a medium term position
just as the market turned...
on Friday
Short Dax from 4899
though mindful of 4908 38.2 retracement of recent fall
and top of the range we fell from on 26th
it will definately be a market target today
EDIT target hit....
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