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entry @ 8561
exit @ 8591 stopped it manually because the development is sideways
result -30 points
GFIs1
edit 12:35 - will be interesting when US stock exchanges will open today - the scenario to of a reaction to yesterday's slump is possible but not necessarily strong and enduring.
But as you can see during the European-open, US index-futures followed the European markets (FDAX, EuroStoxx50...)
US index-futures were halted because of a Limit-Up situation, but after the European sell-off, they started the sell-off (with a little lag) as well and the ES went down 130 points from the Limit-Up halt.
8690 might be touched before turning, so SL wider than normal...
what are 100 points these days?
Of course in this period we see a lot of algorithm trading. Thus this high vola.
edit 14:44 - stopped at yellow line - to prevent from heavy US influence and vola
• Kumo above price
• indecision in IB: open and close despite vola of 121 points very near together
• some sideways until
• yellow line comes down (like a SL indicator)
Trade was foreseen until 15:30 - where a direction change might occur.
We will see.
11:47
GFIs1
edit 13:20 - just to be clear: the GFIs1 system is based only on rules for nearly every plot depending on IB of every weekday. It is a pattern entry / exit system for intraday trades during cash hours. (With a hell of rules)
If you see my charts you see them normally with the Ichimoku indicator. This one doesn't influence the given trades nor in time or stops. This one is just helpful for some levels (lines of the Ichimoku) and to see if the rules are not conflicting.
If one wants to know the bigger picture using this special trend following indicator with forward and backward looking options then it is very important to go from daily down to 4h and 1h - and trading in the 30m chart. Just to avoid being caught.
edit 14:40 - the reversal came with force already 14:30 but we were prepared for it.
Evening low was lower than 8200 in the DAX (future) which shows the trend to kill support @ 8k mentioned in previous posts. 8200 was a longtime a hard resistance line in the past of the DAX. When this line will fall then the 8k will be quickly passed.
Will be interesting where we start on Thursday.
Because overnight movements in Asia might bring the missing piece in the picture.
• Nikkei 16616 -0.8%
• Hang Seng 21585 -3.3%
• Sydney 4809 -3.8%
• Gold 1477 -0.6%
• US Oel 23.7 +3.3%
• €/$ 1.09 -0.2%
Night session brings 750 billion Euro for bonds: ECB takes the Bazooka - "There are no limits"
...not sure if that comes on time and will have positive effects on the DAX
Wallstreet I: the premises will be closed from coming Monday because to traders were confirmed to have COVID19. Electronic trading will then be the only platform. Wallstreet II: ALL (big) profits made since Trump's start have now been erased - within THREE WEEKS...
edit 7:45 DAX started 7:30 lower than yesterday's low @ 8324 - right after it closed the gap to the low
edit 8:50 DAX precash up to reach 8600 for a short time again - despite the ECB announcement not to the high (8670) of yesterday... which doesn't give the picture of a strong green day
DAX OPEN @ 8454
Trading rules here told me to not trade as the hi/lo yesterday is in the "non trade zone". Means sideways and no pattern.
Are you thinking it doesn't matter when one day goes up 10% and the next 10% down?
Just a short insight - Some food for thought
Given that we have free investing money (reserves are excluded here), then one day goes X% up and the next X% down, every day ONE move with the full available money: what will be at the end of two weeks with 10 trades?
The short view is: We have 100 to put. First day we make 10% up. Gives a new sum to invest of 110. So we take this to put it short and lose the "same" 10%. Now we just have a total of 99.
Same procedure with some very different moves we had in the last 3 weeks in the indices to play with the numbers here:
Surprised who has won?
Now we can see why so many traders are quickly at their financial limits. Eventually with margin calls.
Think about
