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Today we have seen a up spike in the Dax in the afternoon.
Looks like it was Draghi's announcement to get the last drop out of any money printing machine. :sarcastic:
Draghi's announcement here:
In fact we had a first green candle of 52 points …
Do you have any idea or suggestion how to react on it personally? I think euro has a potential to go down quite a lot still but going long US dollar is quite dangerous already. I can think of going long gold versus the euro as a protection hedge. Or maybe just buying DAX index and leaving it for some time?
..was skipped due to the open tsunami Draghi had made public yesterday. Range was too high for a today trade. New ATH's were nearly assured.
Now the moment could come where some bigger players cashin in some parts.
Next week maybe.
Looking at Ichimoku cloud of the daily: cloud support is shrinking again.
A good sign that the air up there is very thin.
Looking to monday for a next normal trade.
Thanks Alex for the question: my personal meaning about forex is quite negative. But not only in these days but
always.
You can not see the real volume in forex markets.
Some very big players move pairs around - especially in lower volume time of the day and can make hard and
unforeseen moves.
Trading and intraday trading (as the Dax) means currency moves out there do not have a mortal impact on companies.
Thus pricing of the futures of a basket of companies can not make this roller coaster as currency pairs do.
So I am playing in high risk instruments (with not so big leverage). Playing the forex game can be tempting but
it is not very foreseeable.
As a personal recommendation: Stay out of any market if you feel not ready to see "known patterns" or business
as usual. In these volatile times a lot of small market participants are driven out of the game. If they were burned
to strongly they will never come back.
Well, I basically meant long-term hedging strategy, not intra-day trading or even swing or medium term trading in forex and gold. But probably Euro is the least of your worries, given that Franc is pointing to the sky, so pardon me for this intrusion!
Well - it is not bad to think about every investment in local currency versus trading in a different currency.
So a hedge to the CHF (in my case) of the total amount of the traded EUR futures can be interesting.
As it is a hassle to trade on different accounts and to manage all of them with a individual hedging..
I prefer it the easy way and forget about the currency.
