I am in no rush to try and catch the bottom, this is where the inexperienced will get SL after SL patienceif there is no level to trade on the DAX then we can look to other main indicies for confirmation
- #1,223
- Oct 15, 2020 4:37am Oct 15, 2020 4:37am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
{quote} maybe, it is certainly quite a large rout early into the session... there is also technical argument for up to a further 100 point drop that would then open up W-S2 12582 will trade the levels and see where it goes The circle is the expected turning point for a retrace movement of the last Daily up trend, of course no guarantee it will stop at a retrace {image}
Price has made that further drop and all but touched the W-S2 but importantly it has not gone beyond 76%
DJ has twice tested D-S2 and FTSE the W-S3
I will consider a DAX long above the 61.8% level if the DJ and FTSE keep their levels. It will be higher risk though as clearly this move has sentiment behind it, however retraces occur all the time. so tight SL if wrong get out.
- #1,224
- Edited 5:21am Oct 15, 2020 4:57am | Edited 5:21am
- Joined Mar 2016 | Status: Trader | 1,612 Posts
- #1,226
- Edited 5:18am Oct 15, 2020 5:00am | Edited 5:18am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
DAX - LONG
Long above the 61.8% level with DJ above D-S2 and FTSE above W-S3
see previous post this is a higher risk trade to catch the preverbal knife
EDIT: Closed -4 DJ retesting D-S2
To find out more about pivot trading and get the Pivot Prof Scanner for free, read this article ► Pivot Prof - Trading An Edge
Long above the 61.8% level with DJ above D-S2 and FTSE above W-S3
see previous post this is a higher risk trade to catch the preverbal knife
EDIT: Closed -4 DJ retesting D-S2
To find out more about pivot trading and get the Pivot Prof Scanner for free, read this article ► Pivot Prof - Trading An Edge
- #1,227
- Oct 15, 2020 5:03am Oct 15, 2020 5:03am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
Hi all, hope all doing well. As i have not had any screen time lately, I decided to take D1 charts set and forget trades. Ive been using intersection of 61.8 and PP levels. first was NU at Dr1/Dhi yesterday. worked out a charm Next up is EU pending at ds2. have one on UCad at around Mpp. Obviously wider SL & TP so same risks and all. Just switched the time so suit my circumstances. moving is a pain and a half. will keep posted of updates. {image}
nice trading
- #1,228
- Oct 15, 2020 5:04am Oct 15, 2020 5:04am
DAX - LONG Long above the 61.8% level with DJ above D-S2 and FTSE above W-S3 see previous post this is a higher risk trade to catch the preverbal knife {image}
- #1,229
- Oct 15, 2020 5:06am Oct 15, 2020 5:06am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
12651 long DAX
- #1,230
- Oct 15, 2020 5:07am Oct 15, 2020 5:07am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
{quote} This is experience speaking....I have been caught in that situation many times...learnt the hard way and still learning that patience is very important. Thank Max. Please keep up with the lessons . I appreciate the knowledge I acquire on this thread.
- #1,231
- Edited 7:19am Oct 15, 2020 5:53am | Edited 7:19am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
DAX - LONG
Same conditions as before
EDIT: Closed 66% +20 remainder +3
To find out more about pivot trading and get the Pivot Prof Scanner for free, read this article ► Pivot Prof - Trading An Edge
Same conditions as before
EDIT: Closed 66% +20 remainder +3
To find out more about pivot trading and get the Pivot Prof Scanner for free, read this article ► Pivot Prof - Trading An Edge
- #1,232
- Edited 7:31am Oct 15, 2020 5:59am | Edited 7:31am
- Joined Feb 2013 | Status: Trader | 1,488 Posts
Just got back, Long off WS-2
Out @ BE
Out @ BE
- #1,233
- Oct 15, 2020 6:00am Oct 15, 2020 6:00am
- Joined Mar 2016 | Status: Trader | 1,612 Posts
DAX - LONG Same conditions as before {image} To find out more about pivot trading and get the Pivot Prof Scanner for free, read this article ► Pivot Prof - Trading An Edge
- #1,234
- Edited 7:18am Oct 15, 2020 6:01am | Edited 7:18am
- Joined Mar 2016 | Status: Trader | 1,612 Posts
- #1,236
- Oct 15, 2020 6:16am Oct 15, 2020 6:16am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
{quote} surely you mean Ws2?
- #1,237
- Oct 15, 2020 6:16am Oct 15, 2020 6:16am
- Joined Feb 2013 | Status: Trader | 1,488 Posts
{quote} surely you mean Ws2?
, in a mad rush today
- #1,238
- Oct 15, 2020 6:17am Oct 15, 2020 6:17am
- Joined Feb 2013 | Status: Trader | 1,488 Posts
{quote} of course he does, but how can he be expected to read that blue chart easily
