Wednesday, 1 August 2012

Markets Are In Waiting Mode

This week could be an important week in the scheme of things, although I am quite sceptical. A lot of things need fixing in both Europe and the U.S. but we are in the hands of politicians in an election year. Sad for us.

Today's pic is the DAX this morning, London time.

The first arrow shows the trade after the change of trend. Very clear.

The second arrow is a second pullback that I didn't trade as it was on support. The third may look like a good sell but it is after that hard move down with price oversold. Selling "into the hole" is not a favourite pastime of mine. And I did it a lot when I was learning.

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