Good morning traders! I am currently bullish and have three open long positions on the Dax with stops under 12000. I have closed my three EURUSD shorts for a decent gain, but judging by the Dax this morning, I sense the gains could be lost if the selling pressure continues. Dax Support & Resistance Levels KEY … Read more by clicking here
I trust you are all rested, having relaxed and eaten well over the last couple of days. I decided to get the report out early today, so nothing else can get in the way.
So last week provided some interesting results for many traders, I took a few losses on the chin and am still seeking to go long. I took a long position at 11893 about an hour ago just before a spike and I have reopened a EURUSD short.
So a frustrating start to the day for me, all my longs have been stopped out, and price has been flushed as plenty of sell orders have been triggered. A stark reminder of the speed that the market can move, although this isn’t the largest move we have ever seen. So I am neutral. I mentioned yesterday that I was concerned, today has perhaps started to justify that concern.
We have found ourselves back at the 12k after a brief test of 11950 this morning. Early signs are pointing to a move higher today so I am looking for buying opportunities. I had a little go this morning already and took a small win away, I will be watching for a hold of 12k, if we can’t hold then I might buy around 11950. We have created a high this morning at 12022, so if we take that out I will be interested in looking to go long from there.