Discovering An Edge

welcome back, Vlady

cheers TashK! hope you've been well.

DAX is proving to be a better proxy for EUR.
+145 pips this morning has been pretty fair on Longs.
Am out for the moment but have a pending Long @11338 which is 1 level above Fib Pivot 11298, effectively a 40 pip vibration.
On IGIndex, this is actually a minimum 2 lot requirement.

I'd been adjusting the Long Order up from 11338. Got filled @11346.

Edit: Stops to BE.

And out... seems to be stuck at Fib R2

(here is the site I am using for my levels)
http://www.livecharts.co.uk/Members/...ock_pivots.php

EDIT: bugger.. I should have kept it. The pause at R2 made me nervous at this time of day nearing close. With any luck, it'll retrace between today and London open tomorrow and I will re-enter. The closer to 338 or 300 the better.

Short AJ @8939, long term target 8170
Long DAX @11397

Out AJ -5, long term target remainsFax target +70 pips

My dax order at 358 didn't get filled. Low was 357
Edit: filled.

Added an EU short @10599.
Will try to hold this as long as possible to parity.

Added another short EU 11608

Just to document this.
After the Fed Rate, or because of it, I've loaded up on the following:

EU Short (3X)
UJ Long (5X)
DAX (varies) - I'm tending to scalp these on an intraday basis cos this beast can whiplash like a mofo. Long term target 11186

Edit:
UJ Target : 12620
EU Target : 10771

hey bro, hope you are doing well.
we are entering a year with full of surprises (Oil, Gold, Dollar, Yen etc)
trade safe!
Merry Christmas and a Happy New Year!

hey Tashkent! We are indeed. More volatility is always a good thing trading-wise. Have an awesome Christmas and New Year too!

Seems it's my first post on this journal for 2016.
Happy New Year!

Been trading the DAX last couple of weeks/months on and off. Still making a few mistakes as I learn this beast, but when you catch this dragon it really does take off.
My sense is that as far as indices go, many are oversold and could therefore be in the makings of a bottom.

According to some of my paid sources, this time of year with the mythical January effect can possibly define a marker that could form a bottom upon which to guage the year's performance. During 2015 there were some discussions I looked into regarding candle close and open regarding performance. It's interesting how these concepts now invade the brain almost as an automatic cognitive check without a second's glance. So if January creates a bottom during this week, then the simple trading plan would be to trade in the direction it supports (ie. Long) or trigger its break and enter on re-test (ie. Short). So for indices, I'm using SP500 and DOW and FTSE etc as a general overall barometer - not an exact trigger on any. But I'm waiting to see if January forms one of those typical bottom-shaped patterns.

Interestingly, EURUSD could be going for the noisy area of 1.1 (based on Daily 100EMA) which but I still favour shorts on a weekly basis. For this week - without knowing anything on news just yet - this could support further downside on DAX as I view this EURUSD correlation to still be healthy.

For the moment, I am trading long on AUDUSD as I am flat on Europe... although I did take 25 pips on DAX short this morning on it's London break of open.

And another +15 on DAX (short). Gotta luv this index (errr... until I screw up! LOL)

So I went long DAX @ 9737, SL to BE now. Watching it on the 2MIN. But on 15M looks like this.
Taken it for +30

Whilst I still have a short time to analyse DAX, something I just noticed looking on the 1H. I don't normally look at this but I thought it interesting.
Sunday is usually written off by most as a non-volatile day and therefore taken off data timeframes.

But on IGIndex data, the Pivot on Sunday is highlighted below. Look at where price went. So retrospectively, the R1 target above Pivot could be intraday target for today tomorrow based on current price action forming tails.

Edit:
Possible trading plan? Hmmm.... currently flat. Will wait for it to retrace to Bollinger Mid (MA21) and check price action. If MA21 holds, will take a long with target of Sunday's R1 but I'll exercise caution - it ain't always that predictable. LOL

Taken another Long after bounce off MA21. Got stopped out at BE first time, taken another go but looks like it's consolidating. SL at -30 which is a tad close for what the DAX does.

Edit:
Just checked calendar, German news at 11am... stupid! Closed the trade at +1 LOL.
Will wait until after news. Spikes either way are not good to gamble on DAX when it could go either way - I'll trade the post reaction.

Re-Edit:
I've longed EURUSD instead, my stop is alot more pliable, I've SL below today's pivot and set target at Sunday's R1.

Hello Journal,

Ive missed you.
Trades in play this morning pre London:

Long AUDCAD 9864
Long AUDJPY 8391
Short GBPAUD 19225
Long USDCAD 13422