Short DAX at 7740

4 hour chart shows a classic bullish set-up, either a serious headfake towards support or solid upside towards resistance zones.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1678520>
 

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Quote from nvl7:

Closed long fesx @4377
Thank you, mr. Blankfein!:)
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lloyd-105.jpg
 
There is a descending triangle starting back on 9th, which on its own is technical bearish factor, but MACD, so far, is in upward jigsaw. There is still over a 100 point range within the triangle, so we are not near the apex meaning range is still possible before a breakout occurs. If I was trading an intraday triangle, then I would be considering something like a 10 minute chart's histogram to point direction near the apex, but this is a congestion area which is multi day. Anyway, I am a bit confused right now, will take some time off and re-analyse charts with a fresh mindset, sometimes when stare at screen for a long time start seeing things that are not really there.
 
Quote from JSSPMK:

There is a descending triangle starting back on 9th, which on its own is technical bearish factor, but MACD, so far, is in upward jigsaw. There is still over a 100 point range within the triangle, so we are not near the apex meaning range is still possible before a breakout occurs. If I was trading an intraday triangle, then I would be considering something like a 10 minute chart's histogram to point direction near the apex, but this is a congestion area which is multi day. Anyway, I am a bit confused right now, will take some time off and re-analyse charts with a fresh mindset, sometimes when stare at screen for a long time start seeing things that are not really there.
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Sometimes it´s worthwhile to take a look at underlyings...especially weekly Chart...:)
 
Majority of market players is expecting weak Q4 growth in U.S. and almost every "expert" forecasting credit crunch to have "severe" impact on broader economy...

BUT ! What is going to happen in Q1 2008 ? The picture all these so called experts want to paint is "recession" scenario, because they are smarter then FED is.

Don´t fight the FED ! FED is telling you : no recession ! I agree. Global growth at 4.8 % rate. That´s recessionary ????

Keep my longs and don´t waste my time with what ceratin market players want to make you to "believe" !
 
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