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Forget DAX 12000 yesterday, then 12100, then 12200, then 12300, then 12400. Now out of hours it is 12545. Complete bonkers. I have no desire to short anything more tonight. Just go to let it do what it wants to do. One thing I know have instilled in me, Fundamentals mean absolutely nothing. S&P is trading on a forward PE of 25. What is that all about. Sure I have seen plenty of rallies in cycles before, but never one like this where the reason it went down, still exists. Moreover the risks of a second wave are very real.
stimulus package sorted so probably explains dax madness
I wish Stathis, they are yet to have their ECB meeting and will announce it again for another rally 😥
Plan your trade, trade your plan!
Sell off version of S4H … AUS Ftse Dax and US futures
gives some comfort for the bears.EcB still to come so Dax could be whippy.
Never give up, never surrender.
My plan is to wait for Ftse 6500 and then start looking at
wave counts and timings.The 0.618 fib retrace is circa 6600 and that is where my
plan to start opening shorts begins.My 2020 trading account is in good health and I am now
prepared to wait for the better risk reward trades.Never give up, never surrender.
Well there was the re-test of 3100 i was waiting for last night.unfortunately they had 1 more stop run to make first the buggers.no idea of lean today,every time point seems to be a high in us rth..time for some bear love.
NYSE:Â I’m still counting NYA as a big ABC, now in C up which counts best as a five.
Currently in wave (iii) of iii.
Of course something can happen to change this view, but at the moment the five up count works best.
In order to invalidate this count NYA will have to at least drop back below the wave (ii) marker in the 11,700 area.
I wish Stathis, they are yet to have their ECB meeting and will announce it again for another rally 😥
What a surprise, NOT!
Everything just took off again after weakness all morning.
Plan your trade, trade your plan!
DAX:Â the DAX displays a very similar pattern to NYA.
We got a clean wave ‘A’ upwards followed by what was likely a B wave.
Now heading north in what is clearly five wave action.
However there is a problem with this count because wave iii of C has already reached and slightly exceeded iii = 1.618. That’s a cause for concern because it makes it difficult (or impossible) to calculate logical targets.
Dax is tricky to trade today with some sharp
movements after EcB.S4H but what kind is in doubt or even double doubt 😉
Never give up, never surrender.
This is exactly what I kept going on about. In one day everything has changed. That grind up pattern is not anywhere to be seen today. Quite what causes that (ie absolutely no retrace and no selling), I have no idea. Easy to say algorithms, but even then it makes no sense to have no retraces.
I only hope this pattern continues in RTH. Downmoves are always 2 way, so they are very nicely tradeable.
Plan your trade, trade your plan!
Hard to believe this..hatman had us warned though..way beyond normal..i still cant have new highs ahead.it just cant be that easy to just sit on a trade and hit new ath’s with no more than a few chump change pullbacks..no bulls are worried at any stage here..its just too easy is what im trying to convey lol
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