Wednesday, April 1, 2015

Trades - 01/04/2015

16.22 (GMT+1)
I couldn't follow the position. It got stop out at 12041. 

14:22 (GMT+1)
I try to play out another short setup. I'm not sure that the market is going to reach my TP because we are at the primary target zone.
13:21 (GMT+1)
Closed my short at 12072.5. I'm gonna take a break now.

Break even. Channel on 5 minutes charts must be broken for continuation.

I'm trying to play out a short setup. Primary target zone is at 12030s.
Aussie got stop at 0.7602

The rally is really intense. I can only scalp this market and it's hard to post the position live. I had 2 long scalps: one was from 12058.5 to 12075.5 and  the other was from1 2080 to 12103.

I opened a short position in AUDUSD. Context will be uploaded later. I'm anticipating at least a wave 5 on the 4 hours time frame with a target zone below 0.7550s level.
10:01 (GMT+1)
Examining the 4 hours and daily charts the reversal was nicely set up. Many correction channels were broken and tested today and the MA10/20 channel on the daily time frame also provided nice support again. If this will only be a part of a ranging correction I still think that wave [b] and [c] is missing and the this mornings' rally was at least a wave [ä].
9:55 (GMT+1)
Resistance and the psychological level of 12000 is near, so I decided to take profit at 11995.5.

9:51 (GMT+1)
The DAX reached an ideal level for a correction, but the context of the bigger picture is still open. I'm following a complex correction pattern, because so far the index has shown 3 wave patterns. Nevertheless it doesn't mean that the rally cannot be an impulsive wave, namely and ending diagonal. Whatever the market will decide, this 2 interpretation should move in the same direction for a while. The channel drawn on m30 and h1 shows us that most likely a double zigzag pattern is finished and the market should rise higher even in case of a complex correction pattern on the daily time frame.

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