Thanks @AnasParis for the Dax preview
Seeing the same - some consolidation under pressure down to 8012
and from there a new bullish move to kill the last High from 2007 as
price was coming near on Friday.
As the new alltime High this morning showed finally up - some upmove is highly probable.
Next target is around 8220...
Tomorrow Wednesday some cashing in is expected which means lower prices.
Higher level might go up to 86xx now.
I'm never quite sure whether I should read it in the morning before I trade as sometimes it "over influences" me .
Anyway I have a few questions about how you trade and how you have come up with some of the numbers ... and how come you ignore some. I'm not saying that I know better but just ... putting it out there.
1. Why the 30 Points SL. Is it related to the average daily noise ? Is it a percentage of the ADR ... did it come to you in a dream .. is it based on any particular type of bad trading day (like range bound days) etc ?
2. You take no account of "conventional" measures of trend, pivots, measures of excess or target ADR .... ever. I've noticed a few times that this would be useful. Do you ever consider adding them in ?
3. At times like this (all time high) do you foresee any more "special" rules ??
Give them a shot .. sorry if you have addressed this elsewhere in the past !
Thanks for your questions - You are right - the GFIs1 approach is very different from others.
1) The SL settings are the best calculated staying out of noise but giving enough "room" for some contra-moves
before taking the foreseen direction as well as to limit losses OVER time and under all circumstances. That value
had been the best over the last 24 months.
2) As the system has fixed rules there is no possibility to jump on special events intraday (except numbers, IFO,
last of the month etc. of course which are part of the rule set). So the system is NOT looking for any pivots, support
levels, targets and more - instead making TIME decisions which reflect the highest probability of volume and direction
on any given day. As seen during the thread - results are not always as previewed. Over the long run it is still positive.
The goal was to have a fixed start and end time to NOT read patterns/levels etc. on every day.
3) Even under a new alltime high I think that the market behaves the same - so no new rules have to be invented
right now - in fact I have not changed the rule set for already a long time now.
Hope this answers some of the burning questions - feel free to bring some more in
The following user says Thank You to GFIs1 for this post:
1) The new alltime high on the Dax stepped in today
2) the normal pullback after many bullish days will be seen for sure
3) what a chance that tomorrow is Wednesday - and what the heck - a Wednesday is normally SHORT
So let the winds play it out - I am pretty sure to see some nice cash-in tomorrow.