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Foxy last won the day on May 18

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About Foxy

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  1. @Bell Either way, The DAX looks good to me a drop below 11800 should open a trap door and deliver some great shorts but if for some reason we get a bounce 12500 looks good on the long side, sounds like a win-win from here.
  2. @Bell So long as 11800 holds firm we may see a rally on the Dax.
  3. @Mercury If you are struggling to see the time frame on the chart just click on the chart for a full view.
  4. It's a fair question but my lines are mostly based on the short term so for me, they're bang on. Here's a better view, but anyway it's done the job well.
  5. Starting to look like a fakeout!!
  6. @Bell Yep I'm with you on that, so long as we don't get a rally above 12150 then 11400 has to the target.
  7. @TrendFollower Consider what you are saying in this case and this case is typical, You don't think gold will fall to $1249 or whatever the level will be if it hits the channel but you would hold the trade just in case it had a massive drop without any notable rise first. There is a saying, "if you don't take your profit the market will" The biggest mistake you can make is leaving the market too late not to early, you will never go skint taking a good profit.
  8. The exit point set represents the bottom of the channel and a clear support level, this is how to maximise profit. There are only three potential exit points for a trend follower. 1. the stop is hit. 2. the trend is broken. 3. the channel is hit. If you wait for the trend to break you will lose around half your profit, Sell High Buy Low in a downtrend. It is also a myth that you only trade with the channel, in a clear zigzag trend you could buy the lower channel because in both trades the entry point offers very low risk. The $1249 level is not an opinion just a projected point on the channel. I have no idea how high or low Gold or Crypto or any other instrument will go, I just follow the charts.
  9. @TrendFollower I understand why people went long following the double bottom on gold, but that is not following the trend. There is a clear downtrend in gold so I would have expected a trend follower would have gone short as shown in this chart or would be looking for a short entry on any retrace
  10. Ok got ya, the gap has to fill. So are you bullish in mind of the upper gap or bearish in mind of the lower gap? Personally I think to far to fast, but I follow inter day trends so I bend with the trend Day to Day.
  11. @Mercury If there's no rally tonight I suspect there's real fear in the markets and this bear market will be in for the summer. both oil and equities are at serious support levels and a further sell off from here would be very bearish.
  12. You are so right about that. So many people have bearish personalities even after 100 years of history they find it hard to get bullish after a correction, just one reason why around 80% of trades loose their shirts dealing on the markets, but let's not get to far ahead of ourselves, I'm looking forward to Thursday morning before I start to crow about the bulls being back this could just be a correction in the bear trend, if this sells off overnight I'm a Grisly again.
  13. I know it dos't make any sense based on the news, but I think the bulls are back in control. I noticed before the news broke the H4 footsie was well above the market and the DAX wanted to follow but everything was lifeless until the news broke, this combined with the support levels on equities gives me the feeling that overnight will blossom. If not then Thursday will probably go south very quick.
  14. @Mercury Hi there Mercury, Sorry not been about much today. Did you stop out today or move your stops ? I can see you are still of the same mind. I would guess if your right you could expect a big move over night the market loves to move when we sleep.