Tradeciety

Major indecision in the markets

INDEX:DAX   DAX Stock Index
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Go to any chart and you'll very likely see a consolidation or a price stuck between two major levels.

After 3 weeks of heavy selling, we found some support but the bounce is not convincing. In the DAX             we expected to see 10,000 to load up on shorts again which hasn't happened yet. Monday was a low momentum day without any movement.

The area between 10,000 and 9,350 is a no trade zone and markets clearly haven't made up their minds. In such times, it's best to wait for a clear market direction and not get lost in fishing for a few points.

Yesterday's call of the AUDUSD             had to be canceled due to low momentum, although the trade would have been a winner. Avoid situations where market participants are not clear what to do - you likely just end up in a whip-saw move.
I am trading Forex for 10 years and 5 years ago I quit my corporate job to travel the world


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