The intra day system I am using based on the last day's close at 9:59 British Summer Time (In effect us session close time with the exception of Fridays when the US session closes an hour earlier)is a simple one with the advantage of providing an exact entry points and initial SL.( usually somewhere between 15 -30 pips)
Short entry was 9535 exit set up for 80 pips initially, but the market has closed that trade before I could have protected the trade with a trailing stop.
This being Bank Holiday Monday I have not expected a great reaction but dax had fulfilled its Average Daily Range and made 149 pips (out of 124 for the last tr) already and Dow made only 64 (out of 121).
It could well be the Ukrainian factor and/or the Sentix Investor Confidence release data at 9:30.
This so far achievement makes me nervous to renter short at these levels, but after a pull-back short might be a possibility for today, but with a hard SL.
I expect the Low today which will also be a C of an ABC corrective I have posted earlier on..
The minimum for that C has been met in regards of PA and Time Fibs.
9341 would make that C to be 100 of A.
After today I shall start looking to the Long side, but not catching the bottom, only enter after a confirmation.
Now patiently wait for the reversal on DAX, once that is in play there will bw plenty pips made on the long side.
Piano, piano and enjoy the Bank Holiday Monday!
2be
