Theoretically, yes inflation can cause demand in Gold, but currently we don't have strong enough inflation in the developed economies, that's why we are seeing so many Central Banks loosening their monetary policies. But, yes, I agree with your ...

Only Gold!

Equities dropped, Bond Yields were rising, ECB cuts depo rates, and USD was weakening. In other words, money leaving both Equities and Fixed Income and being put into Cash, some of that Cash makes its way into defensive Gold. It was a perfect storm ...

Only Gold!

Long 1 mini at NYSE open, @ 10695, Exit 10729. +34 Looks a bit choppy and I think it may drag slightly lower over the next couple of days if the EURUSD keeps climbing. EURUSD on 4H looks bullish to me. Have a great weekend all!

Carpe diem: Intraday tactics for Dax and Dow

I don't think I have ever offered that to the ladies before?!? lol

Carpe diem: Intraday tactics for Dax and Dow

NFP was so so, and EURUSD held firm, so it brought back some buyers to the Dax, entered at 10721, exited +22. Really bad internet connection here, cost me some slippage on exit. Might stick around for open on NYSE. Keep an eye on EURUSD, apparently ...

Carpe diem: Intraday tactics for Dax and Dow

Yes, I stand corrected. Belgium or German wheat/white beers are my favourite.

Carpe diem: Intraday tactics for Dax and Dow

Entered mini longs again @ 10721, Exit 2 for +20, and Exit last one for +37 (200sma on 1min). I'm enjoying my Weissbier trading today.

Carpe diem: Intraday tactics for Dax and Dow

What is your time frame for the market to hit 10109?

Carpe diem: Intraday tactics for Dax and Dow

This has a comprehensive list of economic data as its released, including non important/material data, there is no GDP numbers today: url

Carpe diem: Intraday tactics for Dax and Dow

Reentered again with two mini longs at 10705, exit +30 and +40. OK time for beer o'clock in Oz.

Carpe diem: Intraday tactics for Dax and Dow

Re-entered with with 2 mini-longs at 10765, +30 each. Good start to the day.

Carpe diem: Intraday tactics for Dax and Dow

Took another 3 mini longs at 10769 just after the XO dip, exit for +33. Seems to be battling around 10800, it should break clear if EURUSD keeps retracing south.

Carpe diem: Intraday tactics for Dax and Dow

Took 3 mini longs on pre-trade open, sold two for +22, and the last one for +63. Not a bad start, hopefully we get a dip on XO and some rebound buying again. Still think we will hit 10879, or very close to it.

Carpe diem: Intraday tactics for Dax and Dow

If we break 20sma, which we just did on 1H, then its clear sailing to about 10879, which is, 7sma on 4H. Let's see

Carpe diem: Intraday tactics for Dax and Dow

Just saw your post, ahh good, we are on same page. EURUSD looks like its heading lower, great for the Dax.

Carpe diem: Intraday tactics for Dax and Dow

We are sitting right on that support I mentioned last night... Interesting thing last night was money was exiting both Equities and Bonds. Bond yields in Germany went up, but short-term bonds are still negative so not a major risk, but something ...

Carpe diem: Intraday tactics for Dax and Dow

Honestly, I didn't expect Draghi to under-deliver like today. Keeping an eye on EURUSD, and I think its heading to 50% Fib of 1.105 especially if NFP is bad tomorrow. Then if so, then I expect the Dax to break possibly below 10,701pts and 76.4% Fib.

Carpe diem: Intraday tactics for Dax and Dow

Might see some resistance at the 11280 level as we hit the 20sma on 4H. Well until we hear from Draghi, then anything can happen.

Carpe diem: Intraday tactics for Dax and Dow

Overnight we hit the 20sma on Daily, also very close to the 38.2% Fib, which was near the 11070pts range. Not sure if we will go lower, but if we do, the next level of support was mentioned above.

Carpe diem: Intraday tactics for Dax and Dow

Keep an eye on EURUSD... it could spell a change in direction to the Dax over the next couple of days, well until the ECB meeting on Thursday. Who knows, Draghi could cut the depo rates in EU and then send the EUR lower again, and the Dax higher.

Carpe diem: Intraday tactics for Dax and Dow