hereward the wake
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Heads up .. dax IG daily candle at 50% is same as last weeks weekly high 9590 .. confluence
What does this indicate? Move higher?
P
postman
I dont understand the problem :innocent:, Draghi's been telling everyone who will listen (and those that wont) he's ready to provide easing in the Eurozone. He's been saying it for over 6 months now and every month near the rate statement the 'meed-yah' always repeat his words, so it must be true.
So daxy will soar today right? :whistling
So daxy will soar today right? :whistling
hereward the wake
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OK. Good question. Take a look at this 5min chart. It printed a swing high in the first 25 mins off a resistance level of 50% retrace of the 'in hours' day. I went short there but was aware of the IG 50 which coincided with the weekly top, so I had my finger on the button so to speak and was prepared to cut it and flip it the other way on the bounce. As it happens it fell through and I'm still short for the time being!
We are though running into a cluster of resistance from the 2/9
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hereward the wake
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closed short 9543
hereward the wake
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dax now at 50% of the day
yup, off the 66% fib. I got 13 points out of it. My daily target is 10!
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f2calv
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Why didn't you set a stop/trailing stop and let it run after it reached your target?
The main reason is that I have a small(er) profit target on this set-up. Obviously in this case price went well beyond it, but other times it won't. That's what makes this game so fun. To be frank my PnL is v healthy, but I love to complain anyway. It's one of the privileges of the job.
Edit: I also, in my own peculiar way, try to highlight the cr*p that is prevalent on so many trading sites (i.e. the buy here, put a stop there, set a 1:10 risk:reward ratio and become a millionaire by Xmas).
This is why I'm trying to close out for a very small target. Doesn't matter if it runs onwards, though it still hurts if my entry is the start of a 100 point run. Take a small bit from them each day
Sonicscooter
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The main reason is that I have a small(er) profit target on this set-up. Obviously in this case price went well beyond it, but other times it won't. That's what makes this game so fun. To be frank my PnL is v healthy, but I love to complain anyway. It's one of the privileges of the job.
Edit: I also, in my own peculiar way, try to highlight the cr*p that is prevalent on so many trading sites (i.e. the buy here, put a stop there, set a 1:10 risk:reward ratio and become a millionaire by Xmas).
Xmas.......sh1t, is it really going to take that long..............
P
postman
"The ECB had earlier cut its rate from 0.25% to 0.15% in June, and also became the first major central bank to introduce negative interest rates.
It will also launch an asset purchase programme, which will buy debt products from banks.
It is hoped this move will add liquidity to the financial system and revive lending."
Just like it did in Amerika. :whistling
It will also launch an asset purchase programme, which will buy debt products from banks.
It is hoped this move will add liquidity to the financial system and revive lending."
Just like it did in Amerika. :whistling
1
12WBT
SuddenDeath
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t2w is being attacked. wonder if it is the russians
Dentalfloss
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dax futures 4 hour data
note the move from ECB announcement/yellow horizontal
an unstoppable train... could see some profit taking/ a bull test
note the move from ECB announcement/yellow horizontal
an unstoppable train... could see some profit taking/ a bull test
