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Last week the Ftse tried to regain 6128 ( 0.50 fib ) level (which it
hit a couple of weeks back) and failed.Which in the context of this move up could be seen as a lower high.
Time is running out and any wave / pattern failure here could spell
the end of the new ath hopes and open the door to a steep decline.Ready for another knock at this door today in rth.
Never give up, never surrender.
Small short Ftse 6150 … stop 7150 … limit 5150
Low risk initial position to test this time and price.
Never give up, never surrender.
Futures up strongly here in the Far East. Difficult to tell if this is the end of ‘wave 1’ or the beginning of ‘wave 3’. Taking the NYA and DOW charts as the best indicator suggests this is the end of ‘wave 1’. For the Dow the target area is 24,900/25,100. Wave 2 should see a retrace back to 24,200/24,400. 21 day moving average is likely to act as strong support on any pullback, currently around 24,000 and rising.
Dow futures are touching 25,000 so well into the target range. If this is sustained into RTH there will be another large gap up. Again, whether that’s the end of ‘wave 1’ or the start of ‘wave 3’ is uncertain. I’d like to see a clear sign of reversal.
Small short Ftse 6150 … stop 7150 … limit 5150
Low risk initial position to test this time and price.
Closed at 6105 … good start 🙂
Never give up, never surrender.
dax what a joke now it gaped over the previous gap shorted 11471.2 missed the early 11500 ++ if dax does not close the gap to 11391 today or tomorrow i will stop trading dax. eurusd going up all day that used to be bad news for dax.
Es is just relentless! Up 2% and through the big 3k barrier as it stands..ian(rajacar) has posted a c.i.t. for tomorrow on his site,with another due at the close of play friday.makes sense as it stands for it to be a high and down for the rest of the week.
I learnt the lesson many years ago, do not trade US holidays, they nearly always seem a SU Grind or SU.
From last week all I have is the DAX from Monday and the Oil from Thursday.
DAX is 500 points out. Yikes!
Oil was over 200 points in and now its back to b/e
I also have SPX underwater from the previous Friday.
Yes not good, but could have been far, far worse. I have lots of ammo for any opportunities that arise now and will be taking them.
In the meantime I have every confidence that all the positions I have will be back in profit in the very near future.
Plan your trade, trade your plan!
dax what a joke now it gaped over the previous gap shorted 11471.2 missed the early 11500 ++ if dax does not close the gap to 11391 today or tomorrow i will stop trading dax. eurusd going up all day that used to be bad news for dax.
Definitely so and my friends in Germany tell me that they are all scared of going out still as there have been an increase in cases since the lockdown has been eased.
The problem is that whenever there are US holidays we get these stupid moves.
How it unwinds it remains to be seen, it could be a slow grind and then a big down candle when you least expect it or a gap down they never buy back up. They have lots of tricks up their sleeves.
When I look at FTSE I see it was 6000 on Friday and it is 6078 now. That’s not alot up really and FTSE can often give us great advanced clues. DAX on the other hand just moves 300 points in any direction as a sheep of US.
Plan your trade, trade your plan!
Es is just relentless! Up 2% and through the big 3k barrier as it stands..ian(rajacar) has posted a c.i.t. for tomorrow on his site,with another due at the close of play friday.makes sense as it stands for it to be a high and down for the rest of the week.
Can you imagine the stops taken out up here?
However they will not make it as simple as shorting and winning. Now all the new shorts above 3k need to suffer some pain and then it can move down.
Plan your trade, trade your plan!
Should be a flurry of shorts rushing to cover on the open too..more fuel for this mentally ill rally k…ive had 3030 in my head for a while,i doubt ill be able to resist shorting that if it appears.
Should be a flurry of shorts rushing to cover on the open too..more fuel for this mentally ill rally k…ive had 3030 in my head for a while,i doubt ill be able to resist shorting that if it appears.
That is what they should do, but if that’s what we all think they will do, they will do something else.
I see EUrope is just in Grind SD mode since open, FTSE especially as it is off 100 points since this mornings opening tick high
Plan your trade, trade your plan!
Khalsa how come you did not close your dax short for a profit when it dip to 10870 on friday ?
Did you have a specific target or you missed it ?
Khalsa how come you did not close your dax short for a profit when it dip to 10870 on friday ? Did you have a specific target or you missed it ?
Honestly I thought that it was good risk/reward to hold for back down to 10600 ish.
I underestimated the strength of the bulls.
Plan your trade, trade your plan!
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