Tuesday, 25 September 2012

Hitting the Target

I awoke at my usual early time and went through my usual morning routine looking at the web to catch up on news and then looking at the overnight charts. I try and get a feel for the day to come. Bullish? Bearish? Sideways?

Once I've done that, I create a vision of the possibilities for the day's range. At the moment I'm trading four markets: DAX, Euro FX, Light Crude and ES. I mark up my charts.

Today's DAX chart shows the simplicity and effectiveness of this process. Price opened just above the VAH. I envisioned at least a test of yesterday's VAL and a possibility of lower if the VA of 09/20 was penetrated and accepted. My bar chart provides the confirmation and timing.

1 comment:

  1. jenrique42

    Today my trade in Dax

    cieto if I went well, I must admit that today I also precipitate to enter the market, the perfect entry would have been about 5 or 6 bars after entry, is something I have to work more, to have some patience, until the entry point he wants.


    mi trade de hoy en el dax

    si es cieto que me ha salido bien, he de reconocer, que hoy tambien me he precipitado al entrar en el mercado, la entrada perfecta hubiese sido unas 5 o 6 barras posterior a la entrada, es algo en lo que tengo que trabajar mas, el tener algo de paciencia, hasta conseguir el punto de entrada idoneo.