FX:SPX500   S&P 500 index of US listed shares
203 26 8
Weekend special
Hi Daniel , i have a short position in DAX at 9600. what do you think about next week direction ? Thank you
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Daniel_Wu AlirezaMahdavi
buy or sell?
Reply
Daniel_Wu AlirezaMahdavi
if you buy it,press position is 9750.if you sell it ,break up 9850,you have to sl. i think sell it @9800 ,sl 9850,may be good chance.
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Vytasbcn AlirezaMahdavi
I think if you want to risk and can afford SL Just above 9811, as there is a critical level to confirm bullish move on daily and 4H TF. Then you could watch it closely on 1H TF as it is correcting in light upwards/lateral move there at the moment after the last move up. But if it were my trade, I would either get out now, either put a SL at 9663 and hopefully get out of the trade on retracement hopefully around 9510 and/or on first sign of finish of retracement get a long position with TP 9800, 9860, 9930, 10000 and 10200 even. That is my outlook. But moving SL after each pivot after retracements on 1H TF, taking profits for 3/4 of positions after the rallies and on TP points. On 4H TF and above the price is bearish still, but on 1H TF it has already made a double bottom. That is my analysis. And talking about my trade on SP500, I know I go against the trend there, but I expect it to reach 2110 at least before pivoting back and there I will decide what to do (well, that was my plan and the risks taken with that trade).
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Vytasbcn Vytasbcn
I agree that best TP for long on GER30 is 9750
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Daniel_Wu Vytasbcn
So I generally set the TP/SL to add or subtract from the key position 10pips
+1 Reply
Vytasbcn Daniel_Wu
Well, I agree that it could be too tight as I have been kicked out from good trades because of that. And again with bigger SL margin I managed to stay with my shorts on gold during NFP and close them in profit (but then again I expected volatility to be quite high).
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Daniel_Wu Vytasbcn
I've been trading E/U,G/U,GOAL recently,I mainly do day trading
+1 Reply
Vytasbcn Daniel_Wu
Oh, then of course it is short. I am mainly doing intraday trading, I am just starting to learn a bit. Thanx on the tip for Thursday! I did not check the upcoming news schedule.
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Daniel_Wu Vytasbcn
My trading strategy I will be released every day here, I have been engaged in foreign exchange trading for five years, but my English is not very good, so there has been no communication with foreigners
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