Traded another breakout for 36pts then. At 9.05 CET time candle, it closed above 20sma on 1m, and 2m TFs. Watched it go north above the up sloping 7sma. Banked it in the 9690s.

Carpe diem: Intraday tactics for Dax and Dow

Quite possibly, but just need to consider that its FOMC next week, and we may get some de-risking (risky asset selling - equities, commodities, etc) ahead of a possible rate hike there.

Carpe diem: Intraday tactics for Dax and Dow

I know this is mainly an FX thread, but thought I might share my post on a break-out trade earlier on the Dax30 (Equities) when the market opened. There is a method to the madness. url

Spider's Den

I just bought that break-out just before pre-trade open start, for about 40pts x 3 mini's. I saw the breakout 1 minute before pre-trade open. After a volatile day and big drop, coupled with German CPI data released on the hour, along with the ...

Carpe diem: Intraday tactics for Dax and Dow

We hit the bottom of the current upward trend channel, I wonder if the up trend will finally break down. I bought some Long trades again at 9520s. Closed them for +30.

Carpe diem: Intraday tactics for Dax and Dow

Hi Brook I suggest you follow the ECB meetings and US FRB meetings on this link: url I think specifically it was when Draghi indicated no further rate cuts, causing EURUSD to spike up. url Cheers

Spider's Den

Draghi signals no more rate cuts.... Complete reversal and worse now! Jeepers what a day. url

Carpe diem: Intraday tactics for Dax and Dow

I think next stop could be Weekly 20sma @ 10182pts, followed by Monthly 7sma 10254pts and the big one is the 200sma at 10305pts. However, all in good time. Even if we get to that last target eventually, it could still continue downwards from there ...

Carpe diem: Intraday tactics for Dax and Dow

I just added leverage on that breakout. I have no idea how many pips, but it was shit loads. Lol Thank you Mr Draghi.

Carpe diem: Intraday tactics for Dax and Dow

Hmmmm... 9900 is equally possible before Draghi goes online too! I'm sitting out at these levels

Carpe diem: Intraday tactics for Dax and Dow

Yep, I bought some leverage around 9680, and cleared my first trade with some of those entries for breakeven. Left one mini to run, and just banked it for 80pts. Could be done for the day now

Carpe diem: Intraday tactics for Dax and Dow

Bugger it, holding the trade. Let's see, could be buy the rumour today and sell the fact later.

Carpe diem: Intraday tactics for Dax and Dow

Forgot to mention, I thnk Draghi has a dilemma of cutting deposit rates further, as this can weaken Banking sector profitability, and he won't want to weaken the Bank's profitability as it can then become a different problem for the ECB. I might cut ...

Carpe diem: Intraday tactics for Dax and Dow

Agree, if Draghi fails to provide further stimulus, I expect a drop in the Dax, and EURUSD should break 200sma on Daily, beyond 1.1020s. I see some support on 1H 200sma, which has held for past few days (at 9692pts currently). Below that, if Draghi ...

Carpe diem: Intraday tactics for Dax and Dow

Just jumped onto that breakout. Took 30pts x 1. And 10pts x 2. I think that's enough for today, unless I see more breakouts

Carpe diem: Intraday tactics for Dax and Dow

Also if you look at 20sma on 5m, its been holding support for Dax since XO. Currently testing it now.

Carpe diem: Intraday tactics for Dax and Dow

Sorry was away from desk, not really, BRN is always a good one, but see it has moved up again and now retracing. If you look at that most recent move up, it moved in line with Crude Oil.

Carpe diem: Intraday tactics for Dax and Dow

Could pullback here after the burst buying. Just be patient if you want to buy. Watch Oil movement too.

Carpe diem: Intraday tactics for Dax and Dow

That was a nice neat range for XO. Captured 46pts there. Now will wait for NY 8am time, to see if Oil starts to get bought up, and Indices follow.

Carpe diem: Intraday tactics for Dax and Dow

I see a group of SMA supports from 9708 to 9692, and the key 1H 200sma at 9659. We break below that, then BRN of 9600. Key resistance at 9747 and 9765, 4H 20sma and Daily 7sma respectively.

Carpe diem: Intraday tactics for Dax and Dow