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GFIs1 1 DAX trade per day journal


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GFIs1 1 DAX trade per day journal

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  #41 (permalink)
tradereight
Ohio
 
 
Posts: 8 since Nov 2009
Thanks: 0 given, 1 received


GFIs1 View Post
Last day of february

Taking a DAX short here 09:30 @ 6938
exit for 14:30 (before US numbers)

GFIs1

is there any reason for taking a short trade 6970 seams to be
the next resistance level, on the other hand S&P is at the high of the
day so that could lead to an reversal...

at 9:55 we have important job numbers from germany
lets see how the market will go...

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  #42 (permalink)
 GFIs1 
Legendary Market Wizard
Switzerland
 
Experience: Intermediate
Platform: Investor/RT
Broker: IB / DTN
Trading: Futures
 
Posts: 5,600 since Feb 2012
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tradereight View Post
is there any reason for taking a short trade 6970 seams to be
the next resistance level, on the other hand S&P is at the high of the
day so that could lead to an reversal...

at 9:55 we have important job numbers from germany
lets see how the market will go...

Hi tradereight

Thanks for your input!
After the rally from the last days the battle for DAX 7000 seems to be a little early.
My short was because:
Following my Rules. :

GFIs1

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  #43 (permalink)
TenCent
Chonburi
 
 
Posts: 9 since Feb 2012
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hi

I am short in the Dax too

my SL is 6963

what SL do you have?

thanks for sharing

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  #44 (permalink)
 GFIs1 
Legendary Market Wizard
Switzerland
 
Experience: Intermediate
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Posts: 5,600 since Feb 2012
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Hi TenCent

My SL is 30 points for this day - means 6968.
As the previous high was 6975 - a SL @ 6978 might be appropriate.
Though I think the SL is not the theme today.
Precision for this statement: Price will not build a double top
here because the the next higher levels are in the view...
7K+
Much more looking
for a nice exit.

GFIs1

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  #45 (permalink)
 GFIs1 
Legendary Market Wizard
Switzerland
 
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strange enough - even my SL price level was touched
the SL was not filled

Looking forward :-)

GFIs1

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  #46 (permalink)
tradereight
Ohio
 
 
Posts: 8 since Nov 2009
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just exited my long trade at 6970 resistance level

maybe soon we get a short setup, but we should have
longer up trends today as it is the last day of the month (window dressing)

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  #47 (permalink)
 GFIs1 
Legendary Market Wizard
Switzerland
 
Experience: Intermediate
Platform: Investor/RT
Broker: IB / DTN
Trading: Futures
 
Posts: 5,600 since Feb 2012
Thanks: 5,414 given, 11,779 received

2 cents:

1) The bulls may come with the US numbers after 14:30h.
2) We note an Up-gap today which is still not closed..

which leads me to be cautious with longs before US numbers mentioned

GFIs1

***looking for 6865 (VWAP yesterday)***

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  #48 (permalink)
tradereight
Ohio
 
 
Posts: 8 since Nov 2009
Thanks: 0 given, 1 received


GFIs1 View Post
2 cents:

1) The bulls may come with the US numbers after 14:30h.
2) We note an Up-gap today which is still not closed..

which leads me to be cautious with longs before US numbers mentioned

GFIs1

***looking for 6865 (VWAP yesterday)***

I agree with you, a good correction down to VWAP level would be perfect for us daytraders :-)
at the end of the day for the dax index it will still be a positive day if we close above 6890 on,
i am now also short (now that VWAP line on 1 min chart clearly points south I used the rally to enter
short at 6933)

congratulation to your 30 points :-) but as said entering after news releases might give you a better risk reward factor ...

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  #49 (permalink)
TenCent
Chonburi
 
 
Posts: 9 since Feb 2012
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hi

thanks a lot for sharing your views about the Dax

also my Congratulations for your winning Points

I was away from my PC - and just see now, my SL was hit

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  #50 (permalink)
 GFIs1 
Legendary Market Wizard
Switzerland
 
Experience: Intermediate
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Posts: 5,600 since Feb 2012
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To be honest - I have a rule for the last day in the month which does not include german numbers in any case.
As I am here only doing 1 trade for the day it is not allowed to invert a trade intraday. This is why my entry is in the morning with a high probability for a triggered direction and to follow that trade to close it before US trading is starting.
Congrats for your day high long which worked fine.

GFIs1

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