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Me? Tangle? Unheard of lol
I reckon if dax closes below 11400 new York close, or 11375, even more so, Asia will start to offset money from it. Could be a bearish knock on affect for tomorrow
All very true. As I said, if u decide to hold a day trade overnight, a good policy might be, if you can elsafely reduce the stop placement, or lock in slight profit, that accounts for overnight charge. Won't have to move it much. Maybe 0.3 of a point, depending on broker. But most use the same formula re X percent above libor rate, charge or interest. Doesn't equate to much, either way. But yes. End of day, always account for it in stop placement. That way, your risk always remains a fixed constant. Usually, your limit can account for it too.this way, you offset charges, and maintain the interest accrued.
A close above 11375, may give bulls a bit of confidence. U wouldn't want it below that though.
The issue with dax is: Once it got below 11400, it resumed daily down trend. So the last rally now considered a false break, or false rally. That 11400 is important psych area to bears and bulls.
Well, if it was me, I'd probably run it if running loss not too heavy. Probably just a retrace, but how deep, who knows. Yes I used to scalp. Loved it. Exciting. The only problem was, I was making more, without sitting at comp all day, the other way. So, the only reason I trade how I do now, is because I use the spare time to make money in other ways. Only reason really.
Anotherwards, il find trades if any, during morning. Set stop and limit, and in truth,not worth checking on, until near close, if not filled.
Day trades to me, a bit longer than scalping mode. I look fir morning trades. And hope they fill by end of day or before. If nit filled prior to close, simply assess and see if price action now threatens stop. If not, hold into next day
Not trying to confuse lol. For longer trades, I mark out key points on monthly, and trade the weekly and daily. As for day trades, I use the four hour,, but only enter when not against higher up present price action etc. If you are profiting consistently, no method is wrong. No timeframe wrong. Whatever your style, only one aim. More profit than loss. Do that, your right, no matter who says what.
Shauny. I day trade As well as longer. I just day trade via higher charts. Sounds strange but, it's just another method.
If data not the best, between 10800 and 10400 feasible. But that's different to minute trading. Could be 500 long profits even on way down.
I think the close of last week, and traded below it, possibly created start of a weekly downtrend, even if only temporary. So, a test of 11150 would not be a surprise, even if it is just a retrace
Agree.want to see 240 taken out hard. But then lock in profit there. Certainly, not let it back above 240 if 200 is tested
Hottenho. Holding 11464 in the hope of taking out 11240. Think this has a couple more nervy days at least.
Lol haha. Yes agree on four hour. I'm just looking for end of week data eg nfpr, to cause a bit more trepidation first. Maybe haha
Short dax. 11,240 region, first target to assess. No real stop to it apart from, if trades above 11500 for a period, il exit.
11500
Dax a hard call. Hit 61.8 retrace daily, and headed south strong. Got temporary support at an average. But I think, definitely needs to make 11590 support, very soon, or price action will take her down 200 more, rapid
Anybody fancying aud/nzd short? Looking good for a retrace for a day or a few at least