Short DAX at 7740

Quote from ASusilovic:

I had no bigger idea in the morning as to go long, but we have some serious trouble over here breaching 8022.00...:(
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I also went long Dax yesterday evening but look what dax makes out of ES+8 points.
Dax does not want up, its that simple. If it would like to go up it would be up 50 points now.
Better go short any time now, can hedge with ES long.

Phil
 
Quote from Topsurfi:

I also went long Dax yesterday evening but look what dax makes out of ES+8 points.
Dax does not want up, its that simple. If it would like to go up it would be up 50 points now.
Better go short any time now, can hedge with ES long.

Phil
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Price stuck below pivot, short term chart is certainly bearish, failure swings with lowered histogram, but 60 minute chart is still basing for upside. I guess you are right by being short right now, though I would be ready to go long. Personally, I am still long, I did buy some puts yesterday after a failure breakout.
 
Quote from Topsurfi:

added short 8028
Still hedged first short with 2 ES long, but will soon cover hedge.
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Why are you short, everything points to upside break ImO, I am just curious.
 
Quote from JSSPMK:

30 min MACD=coiled spring, watch out shorts
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Technical buy signal + low of channel

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1644505>
 

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Quote from JSSPMK:

Why are you short, everything points to upside break ImO, I am just curious.
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there was a strong divergence between ESTX and ES compared to Dax which strongly lagged behind. Normaly such divergences continue, but not in this case as Dax released this to upside.
It was clearly not a good trade, but you never know that in advance.
 
Quote from Topsurfi:

there was a strong divergence between ESTX and ES compared to Dax which strongly lagged behind. Normaly such divergences continue, but not in this case as Dax released this to upside.
It was clearly not a good trade, but you never know that in advance.
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Understood, thanks for explaining.
 
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