Trading Day 3

DAX


Yesterday the DAX was totally undecided and finished by going down, dragged by the US markets

The Daily Trend  is UP, Hourly trend  is down

Hourly Trend, Daily Trend is SELL

Other

Nikkei - Currently strong 0.46% - but about the same the DAX fell so we might say no influence
Hang Seng - Slightly Weak, -0,3% - this might be slightly negative for the DAX, negative


Currencies
EURUSD: 1.0906, +0.06%, flat, no impact

Agenda
Europe - CPIs, not major
US Session - Advance GDP


STRATEGY FOR TODAY
There seems to be some weakness in the market, range trade with a favor to the downside. Buy into recoveries with tight Stop losses and sell into rallies.
The US has lost now 3 sessions in a row, there is overall weakness in the market. Without the US, the DAX won't be able to show too much stamina.
Monitor very carefully EURUSD and trade in the other direction.

Ticket Size: 3
Number of Tickets: Max 2
Direction: Short
Target: 64 CHF, Max 72CHF


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Results
At 08:20 there was weakness in all markets. On the 10minutes chart in the DAX the past 7 ticks were negative
I put a 3contracts short at 10880, (open was at 10890). Maximum in minus it went up to 10886.
Big surprise, at the start of the session it fell like a rock to 10820. I managed to get out at 10827.
The aggressiveness of the move makes me think further lows are in play, but I will refrain from today as I managed to achieve a 5.4% increase on the portfolio.