Very interesting and rare price movement today in the Dax.
Price jumped up in the morning like no coming back could happen...
But then the cards were shuffled and price came down to nearly
Friday's VWAP which ended @ 7644:
Dax Future had its after hours low @ 20:00 with a price of 7647.
To look forward - price movements are difficult to foresee.
A pullback as mentioned in earlier posts is still highly probable.
In these difficult to read intraday moves - one is positioned best
at the sidelines or being prepared to make any direction intraday
by observing what happens.
PS: for tomorrow I see no important price movements - that will
happen on Wednesday (normally short as always) - announcements
will come then in the morning.
The following user says Thank You to GFIs1 for this post:
Good morning GFI,
Going short today seems logical because the market is basically in a down slide, and the down leg which started yesterday afternoon is far from being fully developed and may therefore continue. The only thing that worries me is that short inventories seem to be already filled up - unprecedentedly for this year (cumulative Delta is currently at its lowest this year of -13481), and when everybody is already short the market may find it difficult to go further down. So going short seems OK to me, but maybe expectations should be checked in.
The following user says Thank You to Eyalor8 for this post:
Today price started above daily Kumo. The system generated a short signal (not too bad as US numbers are in sight).
BUT - the Kumo underneath shows the thickest and therefore strongest support right now.
That is why I have not seen a strong downtrend today and said "consolidating".
OK. But when you say "system generated a short signal" do you mean the system of your own discretionary rules ? or do you have some computerized algorithm? What I am doing is I look at the leg and try to assess historically whether it is fully developed in terms of total volume, number of bars, percent change etc.