On Friday the DAX first went 100 pips down, then recovered all losses and went in plus, dragged by the DOW. Lat during the afternoon, the FBO announced reopining of the Clinton case, markets plunged and post-closing the DAX dropped to 10650.
I
The Daily Trend is UP, Hourly trend is STRONG SELL
Other
Nikkei - Currently slightly negative -0.03%- but about the same the DAX fell so we might say no influence
Hang Seng - Slightly Weak, -0,33% - this might be slightly negative for the DAX, negative
Currencies
EURUSD: 1.0962, +0.86%, impact on the downside
Agenda
Europe - Retail Sales, CPIs, orange, to be monitored
US Session - Nothing
STRATEGY FOR TODAY
Friday there was strenght in the market, then the fear took over. My intuition will be that the DAX will be weak on Monday and eventually will recover in the afternoon if the US sees the FBI case subsiding.
Strategy: Favor downside, eventually long if recovery is sustained
Monitor very carefully EURUSD for further strenght and open short position
Ticket Size: 3
Number of Tickets: Max 2
Direction: Short/Long on recoveries
Target: 68 CHF, Max 76CHF
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Results
I entered 09:10 with one short position. It went 10 pips down, below 10650 to 10640. However, Eurostoxx, CAC40, all were stronger than the DAX. I decided to open a second position. Immediately it went in my direction and I exited the 2 positions after 1 minute. Overall I made 100 CHF. Challenge for today will be to stay out of the market
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