Short DAX at 7740
- Thread starter ASusilovic
- Start date
Trailing stop hit. Flat.
DAX Future above 4500.00 before non farm payrolls ? Where is my sell button ?
Quote from makloda:
HHHHHHHHHHHHHHHHHAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA
Makloda, my coffee just spread over my keyboard. Please be aware that I am in preparation for the session, O.K. ?
what do you expect to happen? the # would have to be off the charts to surprise the market- everything short of apocalyptic is factored into the collective mindset. short of a surprise of said magnitude, it's hard to envision a sell on news. DAX gets through the ~4555 area and it could take off. don't get me wrong, i'll short it at that level, but i sure wouldn't want to have that position on when the number prints...
Traders second best friend : trailing stop....
I am with you here.
ES is still in its small contracting triangle, but only few points away from breakout. This could trigger a lot of buy stops and we would be heading towards 900, that is important resistance and downtrend line.
Can we have a fake breakout ? Sure, but I really don't see a good reason to take a short position right now.
I have still a lot of medium term long positions running and keep that, target is 5500 Dax.
We have a very low OEX P/C ratio. This could be regarded as a negative point but in the last 2 years if we reached such extremly low values it often happened before a significant up-turn.
We have so many positive divergences going on so I would be surprised if we don't break out to upside within the next 10 trading days.