'Morning all.
The DAX and F40 were shaping up in a not-very-user-friendly way this morning, with lots of one-way movement (long) pre-Open, no doubt as a Frankfurt Open-based reaction to yesterday's Public Holidays in France and Italy.
Looking at the charts (and I was concentrating on The DAX-Monster) I had decided to ignore any opening jump into a break North. The one-candle move was just too big not to bring at least some kind of short reaction coming out of the gate...and so it was.
A small blip long (ignored) and then I took the WZ short back into the body.
Now, there was a small caveat to this, however, in that when dropped to the m5, there was a Turncoat Zone just below this action which would form a block at some point to any move short. There was room - just not sure how much. As such, I had my finger poised over the Kill-Switch all the way down (never a bad thing when you ride The DAX anyway) and as soon as there was any sign of sustained hesitation, I took my cash. Ended up with +4.5%.
There was a slight wobble there and then price eventually totalled around +7% but then, sure enough, price bounced on the Turncoat Zone and headed back North into a break.
So, if...if...I had played it completely naked, I would have had a failed break, into a counter short, before a second trigger on the full break. It would have come all good anyway, which is obviously good to know.
Anyway - pretty pictures time:
DAX 06:00 - 08:00 (WZ Short into the body). +4.5%
m5
Plus the detail of what I was looking at on the m5 which helped form the decision-making...
The DAX and F40 were shaping up in a not-very-user-friendly way this morning, with lots of one-way movement (long) pre-Open, no doubt as a Frankfurt Open-based reaction to yesterday's Public Holidays in France and Italy.
Looking at the charts (and I was concentrating on The DAX-Monster) I had decided to ignore any opening jump into a break North. The one-candle move was just too big not to bring at least some kind of short reaction coming out of the gate...and so it was.
A small blip long (ignored) and then I took the WZ short back into the body.
Now, there was a small caveat to this, however, in that when dropped to the m5, there was a Turncoat Zone just below this action which would form a block at some point to any move short. There was room - just not sure how much. As such, I had my finger poised over the Kill-Switch all the way down (never a bad thing when you ride The DAX anyway) and as soon as there was any sign of sustained hesitation, I took my cash. Ended up with +4.5%.
There was a slight wobble there and then price eventually totalled around +7% but then, sure enough, price bounced on the Turncoat Zone and headed back North into a break.
So, if...if...I had played it completely naked, I would have had a failed break, into a counter short, before a second trigger on the full break. It would have come all good anyway, which is obviously good to know.
Anyway - pretty pictures time:
DAX 06:00 - 08:00 (WZ Short into the body). +4.5%
m5
Plus the detail of what I was looking at on the m5 which helped form the decision-making...