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DAX and the German IFO Institute about "Winter Recession"
Translated from the finance news tv channel n-tv:
"The high inflation due to increased energy prices is also leaving its mark on the German economy according to the IFO Institute. According to the autumn forecast, growth this year will be significantly lower than expected. A minus is even expected for the coming year.
The Munich IFO Institute has drastically lowered its economic forecast for this year and next, mainly because of high gas prices. Next year, the institute expects economic output to shrink by 0.3 per cent, for this year only 1.6 per cent growth. "We are entering a winter recession," explained the head of IFO economic forecasts, Timo Wollmershäuser. However, the IFO does not expect severe effects on the labour market."
My remarks: growth of 0.3% (IFO statistic) in one month is just not "growth" but nicely presented plus...
If we look at the statistics below...
we see that the official numbers omit any word like "recession". The truth will be seen in hindsight. Just have an eye on the exploding chapter 11 cases of small and large companies in Germany.
Nice result. Today has shown once again that not only TA is the most important thing in trade. Also to understand the fundamental data are enormously important in many kind of trading, especially on the days in which such are published as today "CPI" in the US and the data which you have shown from Germany.
"CPI in the U.S. was not so bad, but the whole situation in the energy sector for the West (EU/USA/England) is just absolutely tricky.
TA, as you show it on the 30 min chart, and even in other ways of trading TA, was yes in many ways until lunchtime but rather long and then it went off with the move down. Even "DAX Volatility Index" shot up quit strongly today during early trading hours to signal something is coming. Any way:
Thanks @Jaap8242 for your question.
Yes in these volatile weeks we see indecision in direction and mark some very strange and hefty movements. My approach is to use my still valid (pattern) rules for the situation. Yesterday we have seen another false breakout that happened several times in the last weeks.
That said - any SL (read my not closed trades / beyond normal rules) risked to be taken out - so: I have set NO Stop Loss since many weeks.
As long trades are not halted during high volatile times - one has to let the trade play out. Even risking a high negative result as well.
Means to adapt to the roughness of the markets.
Given a very red Tuesday - expecting another red day today - especially watching the long red candles yesterday.
So:
DAX short 9:00 to 17:30
entry @ 13126
exit @ 13028
result + 98 points
GFIs1
edit 9:25 - IB start (9:00) was another false break out within 1h Kumo which ends on IB 30m
edit 12:50 - DAX is in the middle of 1h Kumo @ a price of 13100. Counting the same price difference on this second leg - then we should arrive in the zone of 12960 or lower.
edit 14:12 - price on track - the 13k line is in trouble...
edit 15:55 - 13k had been killed
edit 17:31 - tomorrow gap down on the open highly possible
Google's Fine on illegal handy treatment in Europe is now final:
"The court cut the record fine from 4.3 billion euros to around 4.1 billion euros, according to the court.
To strengthen its position as a search engine, Google imposed illegal restrictions on mobile network operators. For this, the company has to pay a record fine. However, the fine is now lower than planned."
This final decision is now declared.
Of course some goog movements will be ahead.
Today has shown once again that not only TA is the most important thing in trade. Also to understand the fundamental data are enormously important in many kind of trading, especially on the days in which such are published as today "CPI" in the US and the data which you have shown from Germany.