Wager on DAX
- Thread starter romik
- Start date
Based upon weekly? Monthly?
The other index I trade, (DAX)
Romik your entry at 11550 is rather obscure to me I don't see the real entry signal. Forgive my questioning. It was obviously a great outcome. Can you tell me when you entered. I am looking at the chart around May 19th or was it sooner.
Cheers and don't take me query other than purely inquisitive for the forum
Romik your entry at 11550 is rather obscure to me I don't see the real entry signal. Forgive my questioning. It was obviously a great outcome. Can you tell me when you entered. I am looking at the chart around May 19th or was it sooner.
Cheers and don't take me query other than purely inquisitive for the forum
Looks OK to me to hold, but that's my outlook and I am more wrong than right. I know this from my experience:
Price oscillates, trend persists. On daily time frame trend is up, even if next oscillation is bearish within that time frame, trend will remain up until we break through current support level and sentiment flips from bullish to bearish. Neither is currently present. Now, the choice is yours whether to take profit before at least 1 parameter out of those 2 turns bearish. I choose to hold on as I know that even if currently I am doing well with entries, a time will definitely come when my entries are not good and result in consecutive losses. Winners have to be exploited as much as possible. I like to zoom right out of the time frame that I trade and look for similarities of events unfolding to show a change of sentiment, when that 1 parameter flips opposite to the trend I am 'riding' I close the position out and await another signal on that time frame in line with the trend. Sometimes I feel like being contrarian and trade in the opposite direction, but that needs improving as I should only do that whenever weekly is about to turn, if weekly is up I ought to just buy. That's my 1c
Price oscillates, trend persists. On daily time frame trend is up, even if next oscillation is bearish within that time frame, trend will remain up until we break through current support level and sentiment flips from bullish to bearish. Neither is currently present. Now, the choice is yours whether to take profit before at least 1 parameter out of those 2 turns bearish. I choose to hold on as I know that even if currently I am doing well with entries, a time will definitely come when my entries are not good and result in consecutive losses. Winners have to be exploited as much as possible. I like to zoom right out of the time frame that I trade and look for similarities of events unfolding to show a change of sentiment, when that 1 parameter flips opposite to the trend I am 'riding' I close the position out and await another signal on that time frame in line with the trend. Sometimes I feel like being contrarian and trade in the opposite direction, but that needs improving as I should only do that whenever weekly is about to turn, if weekly is up I ought to just buy. That's my 1c
Valid point, the trend is still up as seen by the lower trendline. This could very well be a bull flag in the making, we will soon find out if it pulls back for a short trade first or whether it shoots up past current levels. Haven't taken any trades as of yet, will be happy to trade with the trend.
Higher price may just be the case as the low of 11164 was 10% from the high, healthy retrace.
Higher price may just be the case as the low of 11164 was 10% from the high, healthy retrace.
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