Jumat, 05 Oktober 2012

Trade Setting Up??

Today's pics are a series of the DAX. Price opened right on the VAH of yesterday and dipped into the VA. Is it a BUY or is it a SELL? Too early to tell in pic 1.


Now let's see what happened next.

The market chose to accept value within the VA. Short at about 7332. The market is quiet ahead of the Jobs number so I will take profits on half at the POC and may be earlier if order flow dictates.


Took profit on half at 7325 as the market stalled at the POC area and covered the balance at 7333 as the TPOs went 3 wide straddling the VAH, making the trade into a 50/50 probability or maybe 60/40 to the upside. I made a net profit of 6 points on a half size trade, less commish.

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