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DAX long 9:00 to 16:30
entry @ 16817
exit @ 16787 (SL)
result -30 points
the gap is not closed @ 8:57 but was closed @ 8:59
edit 10:10 - DAX with indecision: Germany Economic expectations 11:00 will give support
edit 11:55 - Expectations of Economic Development in Germany did not come. So the Dax is diving since...
US FED Interest Decision from yesterday: Keeping interest without rising now. 3 interest cuts in 2024 ahead!
Result:
US: The Dow rose 1.4%, closing at 37,090.24 and blazing past its previous record high of 36,799.65, reached nearly two years ago.
The S&P 500 was up 1.4% and the Nasdaq also gained 1.4% as Wall Street celebrated the US central bank’s announcement that it would keep interest rates steady after almost two years of aggressive rate hikes — and that it expects three rate cuts in 2024.
Germany: DAX rose after cash to 16903 - a new ATH! Which will be rising more in today's trading.
Asia: 4:2 green. Top AUS +1.74%, Flop NIKK - 0.84
Gold UP UP @ 2034!
btc$ up @ 42807
Numbers: GB BoE Interest Decision 13:00
EU Interest Decision 14:15, Press Conference 14:45
US Controlling of Retail Sails (after Retail Sails numbers) 14:30
Speeches: none
DAX pre cash 7:30 @ 16944 - another gap up to after hour trading yesterday - this one might not close today or tomorrow!
Today a green bias
The Year End Rally is unfolding: the goal to kill the 17k line is highly probable now
GFIs1
edit 8:08 - DAX reached pre cash 16962! Just 38 points to go...
Edit 19:18 - DAX KILLED THE 17K-Line some Minutes ago! high was 17003 - not finished here
edit 10:09 - the gap to after cash hour prices from yesterday is closed now (the gap to cash hour is still far...)
edit 15:27 - the gap to yesterday is now closed :-o
Dear colleague @Symple. Coming back to your post from Dec 4th where you sent some very interesting charts. Thanks.
My bias is normally not bullish in the markets. As you know from my trading the biggest gains I am (and was) making is mostly on shorts. Means strong pullbacks after a lengthy and slowly up move. Fact.
This time I am just concentrating on the development of the DAX by:
• interests - how are they doing over the last 3 months and what will come next year
• inflation dito
• outlooks in the different economies
• money printing in USA, Europe and Asia
• year end rally
• triple witch
Result of this is my basis of reading the markets every trading day. Reading the statements of the FED, ECB and others.
Given all this - we notice some hype (by new traders joining?) in indexes, Gold and Coins.
I think that we have to consider some pull back soon. So I am prepared. The good thing about trading is the possibility to make gains with long and short trades. Such said we must be happy to see markets with good volume.
Thanks for your kind words. Not sure if you also did read my last post in my "Trading Journal", where I also mentioned the may coming "End of year rally". What happen yesterday after the "FED" decision, was not expected in such a way. For many "Hedge Funds" it was a painful day. Some readers here may are interested in some more info's about what was going on (Artikel at the end of this post)
By the way: Thanks to speak openly about your way of "Trading decision making". It is more complex many may think it is, as charts are only part of some trading plans. But this is each ones personal choice.
Any way: I wish a nice Advents time so far. For Christmas and New Years wishes it is a bit to early.
Not sure if you also did read my last post in my "Trading Journal", where I also mentioned the may coming "End of year rally". What happen yesterday after the "