I am back to my DAX shorting zone.
DAX broke the support line on April 29. I guess we might see some efforts to reconquer the support line and if we fail, we could finally see the retest of the break-out line (white line).
I never buy just one position, so I will use the whole area between 15300 and 15600 to buy some shorts (I prefer 1H MACD cuts to buy a new short position with decently overbought 4H MACD); if we move into the green channel again, the weekly chart suggests a target of 16000, so be flexible.
So I will be patient, it might take weeks...
DAX broke the support line on April 29. I guess we might see some efforts to reconquer the support line and if we fail, we could finally see the retest of the break-out line (white line).
I never buy just one position, so I will use the whole area between 15300 and 15600 to buy some shorts (I prefer 1H MACD cuts to buy a new short position with decently overbought 4H MACD); if we move into the green channel again, the weekly chart suggests a target of 16000, so be flexible.
So I will be patient, it might take weeks...
Comment:
Same update for the DAX like for the SPX: "Nice push so far. The 4H is not so overbought right now, but 1H. So first shorts maybe on Monday/ Thuesday."
Comment:
The channels suggests a push towards 15,525 where I would place my first shorts.
s3.tradingview.com/s...shots/m/M8FZMc6D.png
s3.tradingview.com/s...shots/m/M8FZMc6D.png
Trade active:
Started selling when we failed to move back into the green channel. Shorts around 15,400
Comment:
I expect some intraday trading opportunities. Keep in mind, higher volatility means big moves in low timeframes. Hence I trade smaller positions intraday while I keep my initial positions.
Trade closed: target reached:
It was a nice 300 points drop so far. I am cashing in profits (we got some divergence in the US indices). So let's see what's going to happen at the US opening.
Comment:
Now, the white line is adjusted.