Friday, September 9, 2016

Trades - 09/09/16

Update (20:40GMT+2):
I decided to call it a day and close my positions Dax short was closed @ 10523 with +133 pip. DJ30 short was closed in the parts: 1st @ 18390 with +98 pip and 2nd @ 18192 with +297 pip.

Update (19:47 GMT+2):
Lowered my SLs: (Dax @ 10544 +122 pip; DJ30 @ 18224 +265 pip)
DJ30 and DAX30 (CFD) - 15 minutes charts

Update (17:37 GMT+2):
Lowered my SLs: (Dax @ 10609 +56 pip; DJ30 @ 18354 +135 pip)
DJ30 and DAX30 (CFD) - 5 minutes and 15 minutes charts

There is a bearish slingshot (BeSS) momentum configuration on the DJ30 chart (5 min. - since I started this update the market already reached the minimum target of a new low.). Dax successfully retested the base channel and the BeSS posted earlier on the 30 minutes chart pushed the price below yesterday's low. 

I will close all my position at the end of the day, because:
  • The Dow Jones reached my secondary target zone (new low). 
  • The structure of the Dax concerns me. Usually wave c is more fragmented then wave A (rule of alternation). So this drop to a new local low might be a part of a correction (either a flat b of ii within an impulse, or a wave c).

Update (15:30 GMT+2):
SL on Dax tightened (@10635 +30 pip)
SL on DJ30 tightened (@18410 +80 pip)

Update (14:20 GMT+2):
The dax broken the parallel (base) channel. Bearish slingshot works fine so far. Dj30 fall looks like falling through the support zone. Wait and see now...
DJ30 and DAX (CFD) - 4 hours and 30 minutes charts

Update (13:50 GMT+2):
DJ30 short: scaled out 1/2 of the position @ 18390.
DAX short: ST set to break even @ 10667.

Update (12:00 GMT+2):
Loosening the SL seems like it was a good idea. A nice triggered bearish slingshot is displayed on the chart after a reversal signal. SL is now tightened and lowered to the second L/H, because if this momentum configuration fails to break at least to a new daily low then I expect a rapid price action in the opposite direction (bull).

DAX30 (CFD) - 30 minutes chart - bearish slingshot

Update (10:36 GMT+2):
I won't be able to be online for the next 1 or 2 hours. 

This pull back looks like a DZZ so far, thus I decided to move my DAX sl back above the L/H (@10690). Put a trailing stop on it.
DAX30 (CFD) - 15 minutes chart

Update (10:14 GMT+2):
SL lowered on DJ30 (@18467). Primary target zone will be the next support, which is near to fib 61.8 retracement.
DJ30 (CFD) - 1 hour with primary target zone

Update (9:41 GMT+2):
Dax short is now break even.

I have these two positions. My context is pretty much unchanged.
DJ30 (CFD) and DAX30 (CFD) - 4 hours and 1 hour charts

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