Good Evening Traders. when i look @ 1hr chart, at first, i can spot A-B, a-b Bullish pattern. if that is the case then TP1 @ 0.5% is a preferred view. BUT, i can't ignore the weekly chart, where we saw remarkable Bear Steps, meaning, the might be around. Zoom in to 30min chart, we can see a Bear Divergence building, and Red Candles building a good short opportunity, also we have an open gap, marked in circle.
So, we might see another day of grinding, with no immediate winner.
Hmm.. it seams that either dax will go up or dji down to close the gap between them .
That gap is around 250pips from last 2 weeks till now on top of an older gap of another 200pips (from april to july) .
Take account that (on average over long period) both are correlated : direct with oil and inverse with gold .
Also eurusd is correlated : inverse with oil and direct with gold . (vice versa)
So, dax and dji are inverse correlated with eurusd too .
But again on average and on big period . On small period those can move synchronous or not .
Yet oil has gone down a lot today so I'm bearish especially for dji since from 20June2017 : dax has already gone down and dji up .
but that seams to be related w healcare bill and tax reform in us (so dji up , but why only dji and dax not) .
My opinion : us politics seams to be in stalemate so those reform will not come this year (at least) .
But market can move like a fly in a windshield or even worse moving in the opposite way even after hitting the wall .
Yet I can't think like a Martian cause I don't know how he think . So from the above reasons I'm looking to short dji .
Divergente
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It was a bull trap ...
DaxiDriver
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@Divergente, bull trup from 12300 - 12500 hahah :) thats why we love daxi
Divergente
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@DaxiDriver, First ... you have to be clear that the trend is bearish ..... in time frame H1 ... To join the bears order program sell stop 1242 .. stop loss 12501 TP 12302 ... then expect new minima With divergence to buy ... possible closure of GAP ...
@Divergente, Time frame 15M join highs from the level of 12472 and trace trend line up from minimum 12303 to 12472 and we will have a continuation triangle bearish .... Thank you
Divergente
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@Divergente, Thanks to you ... it is the good thing of trading to adapt to the changes ... and fast this is my appreciation ... and I am ready to comment .... together we are more ... Thank you
@DaxiDriver, Plan up .. in H1 Time Frame according to triangle that I described above ... to the upward break in 12472 the TP 12636 that conicide with width of the triangle and average of 200 periods .. stop loss 12402 Thank you
That gap is around 250pips from last 2 weeks till now on top of an older gap of another 200pips (from april to july) .
Take account that (on average over long period) both are correlated : direct with oil and inverse with gold .
Also eurusd is correlated : inverse with oil and direct with gold . (vice versa)
So, dax and dji are inverse correlated with eurusd too .
But again on average and on big period . On small period those can move synchronous or not .
Yet oil has gone down a lot today so I'm bearish especially for dji since from 20June2017 : dax has already gone down and dji up .
but that seams to be related w healcare bill and tax reform in us (so dji up , but why only dji and dax not) .
My opinion : us politics seams to be in stalemate so those reform will not come this year (at least) .
But market can move like a fly in a windshield or even worse moving in the opposite way even after hitting the wall .
Yet I can't think like a Martian cause I don't know how he think . So from the above reasons I'm looking to short dji .