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Great!
I have mentioned that this week will be "normal" again - so 3 trades foreseen.. -->> see post #1378
Knowing about the UK holiday the Dax is still making a way - today down.
I see a goal of 9350 today - so no conso at this very moment...
Today my tight stop was 9559 - so ten points above my entry.
I want to be precise here - the top of the next candle came up to 9558.50 again - so
that stop was sitting a bit tight but as I said before I entered - the signal is thin -
and some unnecessary upmove in low volume area could give a very negative result.
This thread is about a personal journal - thanks for following, comments and your very appreciated input.
There is substantial risk trading futures (yes - you heard about it so many times).
The barrier between being successful (in the long term) or not is a VERY HARD one!
Think about it and do not blindly follow trade announcements... ANY recommendations -
NOT even here :-)
But feel free to see some consistence and follow the basic assumptions made here ore elsewhere -
it was time to get some new followers of futures.io (formerly BMT) to the idea to get the bigger picture!
AND to profit from some good and even more bad results shown...
Yesterday we have seen a special long Doji in the daily Dax - testing lows.
Today started again the resistance on the top and a pullback down was the result.
Taking Ichimoku cloud in the daily chart - the support for long is shrinking.
Within the next 7 days a slide through the cloud again is possible.
Support is found at 9100 (weak) and 8850 (stronger).
For tomorrow a longer travel down may result after this not very bullish moves
during cash hours and very high indecision in these sideways weeks.
Special situation: daily Chikou came down to cloud top support.
Some pullback today before following the down trend again.
Volume so far ok - some slow up until afternoon quite possible.
Nice trade, the reason FDAX rallied was because of the Putin comments, it was news driven not technical. I was short when Putin opened his trapped, luckily for only 10 ticks
Your reason for the wednesday upside move was news driven.
My decision was ONLY from a technical approach:
1) Friday, Monday, Tuesday were short days in the Dax
2) Chikou support (daily) came into play on Wednesday morning as posted
3) As wednesday normally is a turning point in the week it turned really - up then
Look it from any point of view - there are many causes giving a (hopefully desired) effect
but as I said before I entered - the signal is thin -