Short DAX at 7740

Quote from JSSPMK:



Still in downtrend on longer term charts, 3 min chart about to form a possible triple divergence, watching 1 min chart now (already 2nd lower peak on 3 min)

Target R2

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Stay long in FDAX, work with trailing stops, looks like we´re bottoming out here... meanwhile I am going to take part in a golf tournament over here...got to work on my handicap....GL+GT :D :D :D
 
Long 3

-3.5

Short 3, near 7500 is target

scaled out 2 lots +5.5 waiting for pivot NOT to hold

Bulls still buying intraday pivot here, but I am banking on yesterdays divergence on 30 min chart to take price near 7500 before any upside IF there is to be one of course.

-3 on 3rd lot

Long 3
 
AS, I see what you're talking about, 240 and daily look like a real good bottom, a triple one in fact, histogram looking extra good on 240 and daily, let weekly and monthly charts take over. We are closing in on Autumn and buying normally resumes about this time during bull markets.

Bears do not have a good technical case now, weekly divergence on S&P500 has probably run its coarse now, we might get a basing period for a while though.
 
scaled out 2 lots +5

b/e on 3rd

price trying to settle here on short term charts, defenitely smells like a basing period, moving average starting to flatten, still shopping around on 1 min chart for entry.

buying pivot here, off the lows, low risk

Going to try and hold all 3 lots, bottom looks too good.
 
Quote from JSSPMK:

AS, I see what you're talking about, 240 and daily look like a real good bottom, a triple one in fact, histogram looking extra good on 240 and daily, let weekly and monthly charts take over. We are closing in on Autumn and buying normally resumes about this time during bull markets.

Bears do not have a good technical case now, weekly divergence on S&P500 has probably run its coarse now, we might get a basing period for a while though.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1558606>
 

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