In a nutshell:
Keep in mind this is an indices related trade. Hence due to different market participants we might see "more" irrational behaviour and we might see more traps than in FX related trades. We might see an attemp of the big players to convince the retail investors that everything is perfect before the retracement is going to be triggered. Hence I will build up my short positions along the way up to 2,900.
Job to be done: Check for this trade also Price/Volume, recalculate the Indices in EUR & JPY starting from May 2018 and monitor the DXY
This is not an investment advise this is just my personal opinion.
- AB leg was completed on 12 June
- CD leg is reaching PRZ
- TP 1: 2,760
- TP 2: 2,740
- TP 3: 2,700
- SL: 2,900
- PRZ: 2,850 - 2,890
Keep in mind this is an indices related trade. Hence due to different market participants we might see "more" irrational behaviour and we might see more traps than in FX related trades. We might see an attemp of the big players to convince the retail investors that everything is perfect before the retracement is going to be triggered. Hence I will build up my short positions along the way up to 2,900.
Job to be done: Check for this trade also Price/Volume, recalculate the Indices in EUR & JPY starting from May 2018 and monitor the DXY
This is not an investment advise this is just my personal opinion.
Comment:
Food for Thought
Trade active:
First attemp to scalp. Keep in mind: Bumpy road ahead
Comment:
In case we saw a fake breakout it is worth to think about a SL at BE/a small profit. If the bulls are going to buy back yesterday´s losses they will definetly target for a new high. Hence we exit the trade at BE/cash in a small profit and then we would wait for a new entry point. We will do this as long as we find the perfect entry.
Nevertheless for the time beeing we stay short with a buffer comfortable buffer of 17 points.
Nevertheless for the time beeing we stay short with a buffer comfortable buffer of 17 points.
Comment:
Comment:
Today we broke the Trendline and we tested as well the EMA 50 (4H) trendline. Which is at least a good sign for us. Move SL to BE but consider spread & swaprates for the next days. Enjoy the rest of the trade risk free.
Comment:
Soon we will know if we have a new support zone or if we are just moving through...
Comment:
Formation of Head & Shoulder pattern in 4H, but we need confirmation. Keep in mind S&P quarterly results are awesome and majority of Reports are above analysts expectations according to offical media. Right now we are using the momentum of the trade war tension.
Comment:
Comment:
Back to square A; your Position should be closed by now at BE incl. a small profit. We are now focussing on the initial PRZ and can open the next short positions as indicated below. Both legs will be finalized by Friday this week/ Monday next week.
Comment:
2nd attemp. The S&P finished the leg B/2 within the same timeframe like the first leg A/1 (41days). As written above, we might see today that the bulls try to reach an new ATH. So, I already started to build my short positions with SL above 2862. Let´s see if we get it this time or if we see a move towards ATH.
Trade active
Comment:
Back on track
Comment:
My SL for this attemp is above BE. I entered the trade @ 2848 and SL is above 2861. We are trying to short a tanker/tankship and this takes time.
Comment:
& moving…
Trade closed manually:
I am closing this trade but I will reenter the trade. Seems the market is again on the bullish side… We will be back. Cash in the profit :)
Trade active
Comment:
I am still short and right now +8 pips... The S&P is strong like the DJ. Let´s see where we are at the end of the week. This is really a big tanker.