Recent market, the strategy is to trade what you see and not what you think. Watch for signal at level. And remember I said that US and Europe showed buyers coming in........watch the next/next few candle(s) to confirm that.
Lets see did it confirm. Let's look at 2 indexes for each market.
DOW - two hammer candles at level and last Friday it triggered. Whole day it went up 263 points or 1.63%. Those who do intraday index future could have made money from 50 to 200 tics. DJI 1 tics is U$5.
S&P - hammer followed by inside bar at level. Same as DOW, last Friday, it triggered. Whole day it went up 24 point or 1.29%
DAX - first candle showed seller weakness. Then followed by a hammer. Last Friday it triggered. Whole day it went up 267 point or 3.12%. Those who do intraday index future could have made 50 to 180 tics. DAX 0.5 tics is EUR12.50 Nevertheless one thing you might take note is below there is a FIBO 161.8%
CAC - it set up and triggered went exactly the same as DAX. Seller weakness, hammer and Friday triggered.
What to watch out next? DOW, S&P and CAC are now at FIBO resistant level. For them to go higher, they require to break those levels. On the other hand, we will see a different story if they revert and break FIBO 100%. So watch out on that.
Last but not least- remember hard today market is mend for trade. Before you enter a trade, make sure you know where is you cut loss level.
Lets see did it confirm. Let's look at 2 indexes for each market.
DOW - two hammer candles at level and last Friday it triggered. Whole day it went up 263 points or 1.63%. Those who do intraday index future could have made money from 50 to 200 tics. DJI 1 tics is U$5.
S&P - hammer followed by inside bar at level. Same as DOW, last Friday, it triggered. Whole day it went up 24 point or 1.29%
DAX - first candle showed seller weakness. Then followed by a hammer. Last Friday it triggered. Whole day it went up 267 point or 3.12%. Those who do intraday index future could have made 50 to 180 tics. DAX 0.5 tics is EUR12.50 Nevertheless one thing you might take note is below there is a FIBO 161.8%
CAC - it set up and triggered went exactly the same as DAX. Seller weakness, hammer and Friday triggered.
What to watch out next? DOW, S&P and CAC are now at FIBO resistant level. For them to go higher, they require to break those levels. On the other hand, we will see a different story if they revert and break FIBO 100%. So watch out on that.
Last but not least- remember hard today market is mend for trade. Before you enter a trade, make sure you know where is you cut loss level.
No comments:
Post a Comment