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DAX (Germany 30)

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Dax completely out of sink with the Dow. Sideways MA's and looking confined to range/shallow channel seems more likely to test support than resistance.

 

GER30(£)Daily1501.png

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Euro usd is in an up trend ,  this makes Dax expensive,  German exporters suffer.This is affecting the Dax.

 

trend rtr eur usd.jpg

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German 30 y bond auction today and Eurozone CPI at 10:00 may give dax a kick start.

 

GER30(£)Daily1701.png 

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Dax taking another crack at the channel top having found support off the 23.6 Fib level.

 

GER30(£)Daily1901.png

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sellers have been in that pink zone before, their stops will be above that. There is German Econ & ECB out this week, so should be good trading in thisCapture vf.PNG

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Having broke up past resistance yesterday has failed to follow up the move this morning. Still confused price action.

 

GER30(£)Daily.pngGER30(£)H1.pngGER30(£)M5.png

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either a stop run, or previous resistance now becomes support - ECB tomorrowCapture dax.PNG

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May well be hesitancey with regards to the ECB rate decision tomorrow as you say though they have been a rather pointless talking shop exercise of late with no real changes just rhetoric designed to sooth the markets. 

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Everything looks clear after the event, trading requires a different brain  to trade in foresight, it is all very easy after the event.All analysis is done with our rational brain, real trading is different.

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elle  

 

said it was all clear , as always everything is so clear in hindsight.It is never  clear   before the trade, only after the event  trade it looks easy trade.

 

I was just pointing out it is always difficult before the trade.

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elle said it was clear because price just crashed through support, you weren't expecting it, no one was, so what is this utter tripe about foresight and hindsight. It was just a heads up, a statement of fact for anyone who was not watching at the time, that is helpful if you were watching something else.

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The support and resistance levels on the higher time frames that everyone (else) uses rather than the transient lower lows or higher highs that you use on your 'system' indicator.

 

GER30(£)H1.png

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I expected it to be broken,that is why I bought a put.Euro strength is bad for the Dax, so dax was going to breakdown.I was trying to short it and it chopped me out above 1.3540.

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The dax was a dead bore all day until it broke down thought the upper white zone which was, at the time, the 4 hour support level. The massive bar used to crash through what is resistance on the weekly chart meant business. (see 5 min chart) You can take those as they go through because the risk is minimal (stop just above the red line). 

 

GER30(£)M5.png

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dax is putting in an interesting 1 hour bar bounce up off the trendline but has some heavy resistance to work though if it's to make any progress.

 

GER30(£)H1.png

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Yes, the resistance held and the trendline broke. Taking it's lead off the Dow.

 

GER30(£)H1.pngUS30(£)H1.png

 

 

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No I'm not actually, a three touch is a good indication the line is being used and is not random. Your channel lines on the other hand are routinely violated invalidating them, any subsequent touch is random. 

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Keeps on dropping but closing in on multiple support. (trendline, 200day EMA, weekly support level, and a broadeniing formation bottom).

 

GER30(£)Daily.png

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