Thursday, 1 September 2011

Euro FX and DAX

This morning turned out to be a great morning in London time. It started off slowly and then the markets broke.

The charts below are unfiltered pullback signals in the Euro and the DAX markets. I didn't take the longs, as there was no real positive order flow, but then the Euro broke down.

I was too slow to catch the 1.5359 sell but it alerted me to what was to come: SOLD @ 1.4354. The better part was that it made me watch the DAX and 10 minutes later I was able to catch the sell @ 5762ish. My size on the Euro was smaller and I ran out of bullets on the way down, but I did catch the DAX @ 100% size as I had been alerted.

These are MarketDelta charts. The DAX's MarketProfile also gave good context to the trade. The Euro's MP always needs a lot of splitting and I had not done my homework on it when the market broke as I was doing a GoToMeeting. I paid the price for not being prepared - less profit.

No comments:

Post a Comment