Still holding my short position on the DAX target 11525.
Also have a pending sell order on the SP 500 at 2114. Target 2100
Also re-entered WTI short overnight
FED news tday usually means markets are euphoric and all is well for chaotic buying of all assets. We have seen the worst quarterly data in 7 years come out of the US and earnings have been generally weak, but that doesn’t seem to matter these days. Will keep stops positioned for a break even if price reverses. i believe the only thing preventing a big equity down turn is the recently weak dollar and of course central banks. Almost impossible to call a top in this juiced market, but attempting one here
Pending sell executed, if I have time I will walk the stop down, have to keep things tight here, Fed news may spark buying. Technicals appear to warrant a move below 2090 on the SP 500 futures but just about everybody has been burned attempting to short this bloated pig so I will stay cautious.
Target Met…called the play by play on that one, hopefully somebody else cashed in
SP 500 short approaching target, In a normal environment the SP 500 would be down 100 with this GDP news, central banks created totally chaos in the markets. There is no true price discovery anymore.
and then there was silence… nice trading Rob, same style as me, different choice in assets to trade … thanks for putting this thread back on point… unfortunately, although I am certain there are people here who genuinely want to learn how to trade, there are also far too many people who have failed at trading and think too much of themselves to believe that someone else could do better… The latter have given me plenty of reason to think that posting here is a waste of time… those who do appreciate what Rob has just done for you please speak up… maybe I am wrong and there are more here who want to learn vs those who failed and just have opinions and assumptions to throw around!
I have been reading this thread but not posting much, just trying to absorb the lessons and learning. But because of this thread I observed the eur/gbp possible break through of resistance @.72346 and am now up 74 pips. Thank you all for showing how it can be done. d.
Markets really should correct 30- 60% in the next several months, but it is difficult to hold any short position with all of the government intervention. Everything is counter intuitive so it is best to keep tight stops and slice in an out of the market.
Exited the DAX pos for the weekend. Tomorrow should be lighter volume.
Low to no volume this morning. Attempting a Late market open trade on the DAX. Market open usually occurs around 90 minutes or less after market open time(Green vertical line on chart). This trade is the first valid entry pattern that occurs after the market open.
I am bracketing the trade this morning. Blue horizontal line is a pending buy, red pending sell. We shall see if which one executes. Low volume may hamper things. Will not hold a position over the weekend. Not risking much here, so kind of a fun trade for a boring day.
DAX Trade Update:
We did get a nice pop as US equities opened. Adjusting my SL, TP and Move to break even lines. Moving the break even live to daily high. Why? Because if price spiked up to this level, then reversed it would serve as a short entry trigger. IF we get a higher high, may adjust these levels.
… thanks for putting this thread back on point… unfortunately, although I am certain there are people here who genuinely want to learn how to trade, there are also far too many people who have failed at trading and think too much of themselves to believe that someone else could do better… The latter have given me plenty of reason to think that posting here is a waste of time… those who do appreciate what Rob has just done for you please speak up… maybe I am wrong and there are more here who want to learn vs those who failed and just have opinions and assumptions to throw around!
