As you can see the chart as a nice double top (blue arrows) so if it goes undre 1.17900 then it will descend till 1.17500 . You can open one order right now and set another pending at 1.18200 both with sl 1.18400 . Also tp1 1.17500 and tp2 1.17000 . Also a nice small downtrend channel .
From 1.0600 to 1.1900 eurusd was only up ecxept 3 stagnation around those 3 red lines .
That is 1300pips up with no retrace . So maybe it is time for a retrace with tp1=1.1600 and tp2=1.1400 .
I can use pivots or wait for higher price to sell , but can loose the entry moment or find myself on a continuation of the uptrend .
As you can see in pink for FR40 and turquoise for UK100 the rise in EU markets had started from Aug 03 and more on 04 .
Also in red US30 up too and in blue SPX500 almost flat .
But DE30 in green on Aug 03 was falling or flat and on Aug 04 left behind the raise in FR40 and UK100 .
Those rise are also related with WTI rise or flat to over 49 , also with GOLD fall...
dax30 is in green , sp500 in blue , dji30 in red . dow is up 500pips in 5 days (slow and steady up 100pips/day) .
CNBC, Blomberg ... all agree that US markets are going in the wrong direction (up) .
But maybe the uptrend in US markets is taking account of future developments like :
- civil unrest in EU due to so many migrants ,
- ECB will stop printing money ,
While last month dax has gone down dow has gone up and that with US in political gridlock .
dji must go down 900pips to have a proportional move like dax in last month and that if dax is standing still .
So now i'm shorting both until this difference of 900pips comes down to 400pips for tp1 and under 200pips for tp2 .
Expect that dji will not move down so much...
dax on the even longer way down ! Is this the new channel ? Or it can fall lower with US fall ?
For the moment dax is at the lower edge of this new channel and if US don't follow the downtrend then dax may go towards the upper edge of this new channel .
dji/dax is inversly corelated with gold and eurusd . Also eurusd is diretly corelated with gold . Gold is up and so eurusd is up .
Therefore dji/dax must go down as long as gold and eurusd goes up . Please see my previous and my first published idea too .The long way down .
That low of 12320 will be retested soon . Maybe today . Already tested on June 30 , and July 06 . And who knows ? Maybe the third time is lucky .
As you can see in the above Fibonacci Time Zone and the below Trend-Based Fib Time .
tp1 and tp2 or vice versa ?
Please see my first published idea . Is my point in there wrong ? With no healthcare/tax reform in US why is dow30 going up ?
On the other hand, the big boys - the whales - those who moves the markets can't go with the trend and with their huge money rapidly clearing the markets .
So they can match their big pile of money only on the...
dax seems to be range bound . Perhaps it will stay between 12315-12485 .
Once and twice means to divide your trade in 2 halves instead of only 1 trade - so you can easily set tp1 and tp2 (also you can set sl1 and sl2).
So sell once at 12485 , twice at 12495 with sl 12505 both and tp once in the middle 12400 and twice 12320 also buy once at 12320 twice at 12310...
My opinion - these days the stalemate in American politics will reject again the healthcare reform . So :
1) dax has already fall as this healthcare bill will not pass .
2) dji has risen like this healthcare bill will pass so when it don't pass then dji will fall .
the fall in dji will be big : already dji has 300pips more compared with dax . but this fall