Hi Guys
Beginner Question:
Would any of you try to scalp the Dax while it is in the current trading range?
Or just wait till a confirmed break?
ps Happy New Year.
9550 has gone, so its all over
9550 has gone, so its all over
Sorry, but what do mean by this?
Is it back to a trading range?
Theres a lot of selling going on.
Anyone hear a fat lady singing?
Guys
I went short Dax 9534 with my stop 9555
I am trading 5min TF using only price action.
Logic: Break below the TR with a "strong" looking bear bar
( I tend either to get in too early OR too late!)
So it stops exactly at my entry and seems to be back to a TR.
Is there something obvious I missed which would have told me not to make this trade?
Thanks
andy
Hi nitrader, inducement, parabolic move..... your enrtry may turn out good (& hopefully it did judging by the current price) but first the price will usually race back to near or at the breakline to shake out people that have shorted at that break point, therefore automatically giving you the possible shakeout of your short as the price rises, then it races back down to cover the possible longs & shake them out, or best scenario for the pros & bucket shops is people trapped, the brokers & spivs dream
i never know what you're talking about :whistling