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its prob the best part of my trading at the moment - picking the support / res areas where price is likely to head to & reject. this is all time highs in the bund though so dont have any levels here - an extension of the flag wld be early 40s & my target. i look for the areas i wld potentially reverse my position or scalp & place the target a few ticks before.
the bobl looks like can extend higher, been v strong last cpl of days.
for rest of this week i am trading small & v selective, am waiting for the commercial paper to return to the mkt - which will be next week i hope.
Can you help answer these questions from other members on NexusFi?
Keeping cash safe with governments is the only game in town right now...7 years into an economic cycle, about time for another totally 'unexpected event' in the markets.
Indeed-taking profits when in a totally new zone-not the easiest. That;s the same approach I have r.e. profits (where would I go short?) but it's about holding your nerve (for me at least). I also look for multiple reversals at a certain price as it shows that traders were interested in these prices before.
Good to hear that your profit taking is going well!
extension of the flag really - so it moved up 20 odd ticks then formed the flag around my entry & then went another 20. a guess but it was spot on - shld have reversed!
to buy 20s, gd setup, saw that ppl were getting long @ 25s & some puking @ 20s, but thought the 20s was better this is the daily resistance i mentioned & from the prev post at start of day i said i wld long a retrace into this area. the only issue now though is that with such a large (relatively) pullback the trend is now dead. so its a counter trend trade almost.
i didnt take it - was sorting out my gilt limits/feed. & happy to watch.
To bounce at 19 or not to bounce at 19, that is the question. My guess is that the original retrace to 19 before moving up even higher will answer that one but we shall see-not trading it.
Have had nice day on Eurostoxx so will leave the bund alone.
Am setting up my own journal as I don't want to keep hijacking yours but will still post here if that is ok and isn't distracting?
gd stuff bootsyjam, journal is definitely worth it, well done on the eurostoxx. got a chart? i can come over & hijack yours ha. of course still post here, gd to keep us both on the ball gets v boring talking to myself!
bund was looking heavy there - not great bounce from 20s.
bund & gilt been trading similarly today. i dont want to be spooking myself out of trading one when looking at other. the correlations of gilt & tnote is strong, its weak with bund though, normally - i need to remember that.
