Tuesday, 8 May 2012

Delayed Reaction?

I started this morning (London time) with the idea that there would be a bounce. I bought the DAX and was stopped out. That told me that I should be expecting a delayed reaction - down morning to yesterday's rally after yesterday's overnight weakness. I sold the DAX then with a first target of yesterday's POC at around 6540.0-ish. Next target was the VAL of yesterday, 6500.0 but with a couple of FavFibs in between. My trades were in line with that vision. I draw the FavFibs in as soon as the swings are set up so I am constantly aware of the possibilities.

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