Trades - 31/03/2015

18:33
Sl lowered  to 11952.

17:00 (GMT+1)
If this is really an ending diagonal in a flat (c) position, then at least a higher degree wave [c] should be on its way under today's low real quick.

m5-m15-h1

16:37 (GMT+1)
Just a thought. It still needs confirmation.

m5-m15-h1

15:32 (GMT+1)
Position got stop out.

15:25 (GMT+1)
This is a very delicate place. There is a nice short setup on the 1 hour chart, but that doesn't mean the market can't retrace to a higher price even if the context is right. The price must break below the channel drawn on the 5 minutes chart for continuing the downside movement.

m5-m15-h1

14:47 (GMT+1)
Position got stop out. I'm gonna take a break now from trading because I wasn't patient enough.
 
14:43 (GMT+1)
I'm betting on the continuation of the downside movement. Sl is lowered to 11975.5.

m5-m15-h1

14:38 (GMT+1)
I've tried to make a long scalp but the position got stop out near break even.
dax_m5_scalp

14:24 (GMT+1)
Closed position at 11963.5. I'm waiting for the next setup.

14:13 (GMT+1)
Break even.

14:08 (GMT+1)
I'm trying to play out a bearish continuation setup.

m1-m5-m15

13:46 (GMT+1)
Short position got stop out. The market might pause for a little while now and retrace some of today's drop.

13:27 (GMT+1)
Lowered my SL to 12000.

13:04 (GMT+1)
The momentum of the 1 hour chart looks bearish: the failure to swing high was followed by a bearish cross.

m5-m15-h1

11:54 (GMT+1)
Break even. I try to be patient and sit on my hand.

11:52 (GMT+1)
Short opened.

m1-m5-m15

11:43 (GMT+1)
Closed on M1 exit signal at 12051.5.

11:37 (GMT+1)
I opened a short position and lowered my sl. This might be just a wave [B] on the 1 minute chart, but the correction channel is near (see 1 hour chart) and I hope that the price action will pierce right through it.

m5-m15-h1

11:13 (GMT+1)
I decided to close my short. I'm gonna try to reenter though.


11:11 (GMT+1)
Break even.


11:06 (GMT+1)
I'm trying to play out a short setup again. It looks like the bullish slingshot on the 1 hour chart wasn't able to push the price higher. A break down under the today's low would support the bear bias.

m5-m15-h1

10:26 (GMT+1)
Position got stop out.


10:08 (GMT+1)
I opened a short position. The minimum target is 12030, but I hope it will go lower and test the support zone located at 11800s level. SL is at 2 point above today's high.

m5-m15-h1

9:57 (GMT+1)
I think the channel drawn on the 5 minutes chart should determine the direction of the next wave. In case of a new local high I will look for a long setup.

m5-m15-h1

DAX - 27/03/2015

19:09 GMT+1 
Price action on the 15 minutes chart looks like a triangle pattern is unfolding in most likely a b of b position, although it can also be a bearish triangle in a lesser degree. Open test is needed to determine its position. Later on I'll post an illustration about this.

13:45 (GMT+1)
I closed my position on my cellphone at 11843. I'm done with trading for today. Have a good weekend everyone!

13:31 (GMT+1)
Break even.


13:28 (GMT+1)
Channel must break for a bigger downside movement. I got leave for a meeting and I won't be able to follow the position. I put a trainling stop on the position.

m5 charts

13:18 (GMT+1)
Break even.

13:11 (GMT+1)
I'm gonna try to play out a short scenario.

m5-m15-h1

12:07 (GMT+1)
I decided to close the position at 11900.


11:42 (GMT+1)
I think the market will test today's high, but at least the 11930 level.

m5-m15-h1

 11:20 (GMT+1)
Closed the rest of my long at 11885.5. I'm gonna take a break from trading now.  The correction from the temporary top has reached the minimal level I expected but I think a more complex pattern on the 5 and 15 minutes chart may unfold, and we might see the price action to break below today's low. We'll see...it's friday :)

11:15 (GMT+1)
Opened a long. I expect at least a wave B to be carried out. SL is already raised to 11870 and I scaled the position  at 11890.

11:04 (GMT+1)

Channel drawn on the 5 minutes chart might decide the direction of the next wave. So far the drop is contained by a parallel channel. Upside break out would suggest at least a correction to the level of 11900s. I plan to open a long if the channel gets tested.

m5-m15-h1 charts

10:59 (GMT+1)
Stop out.

10:56 (GMT+1)

m5 charts

SL lowered to 11823.

10:40 (GMT+1)
I didn't wait for the TP and closed the short at 11817. The position reached 2R.

10:35 (GMT+1)

Back on the short side for one last time. So far my balance is negative for the day, and I don't want to burn anymore of this week's profit. If this position gets closed in a loss, I will go away from the market at least until the U.S. opening. Another mistake would show me that I can't see the market well at moment.

m5-m15-h1 charts

10:31 (GMT+1)
It was a bad decision to open a long position and I got my punishment for that.

10:27 (GMT+1)
Quick try for a long. Price has bounced from the bottom line of the channel. And it got quickly closed too :(

m1 chart

10:22 (GMT+1)
One more try to play out this short setup. Hopefully the correction won't be a flat...

m5-m15-h1

I decided to step back and closed my position at the bottom line of a channel on the 1 minute chart. I'm gonna reenter if new local low will occur.

10:00 (GMT+1)
Position got stop out. I blew this trade, but I'm gonna seek reentry on the short side if there is an opportunity.

9:51 (GMT+1)
Break even. 1 hour candle looks like it's going to be a reversal one.

9:47 (GMT+1)
Even if this is not going to be an impulse wave on the 5 minutes chart, I think the 11850 level is reachable from here. Lowered my SL to 11890.

m5-m15-h1 charts

9:35 (GMT+1)
So far the drop on the1 minute chart looks like a correction. Position got stop out. A new high would suggest a continuation of the rally, while a break of 11880 would make a bearish bias.

9:32 (GMT+1)
Short position opened at 11904. SL already lowered to 11911. Tp modified to 11860. I also put a trailing stop on it.

m5-m15-h1 charts

9:25 (GMT+1)

For a temporary top to be in place the market needs to make a reversal candle on the 5 and 15 minutes chart and then a break of the Elliott channel drawn on the 15 minutes chart. I plan to scalp today and I think my first trade will be a short. Ideal target zone would be the support provided by a triangle (m15) around 11850. Now I'm gonna wait for a setup.

m5-m15-h1 charts

8:45 (GMT+1)
MA10/20 channel on the 15 minutes chart supported the upside movement nicely. Ideal fibonacci expansion levels have been reached. A smaller degree impulse wave may be building a temporary top.