DAX1! trade ideas
FDAX UpdateRSI overbought, MFI is ot there yet. Looks to me like it wants to double top because recession is apparently good for German economy.
I have no idea why the European market is so disconnected with reality. Anyways, I'm not just spouting recession, they are technically in one, in fact the whole Eurozone is.
www.cnbc.com
FDAX UpdateTrying to figure out who's still buying into this BS rally, it looks like it might be the Euros, FDAX MFI needs to hit overbought. So possibly another gap up tomorrow even if the market goes down today.
Snagged a few BUD puts this morning, just holding that. Got whipsawed out of my XLF puts but I might get another chance at it tomorrow, lol.
Note: I don;t trade the DAX, I use it as an indicator for US market gap direction
FDAX UpdateToday's morning pump was brought to you by the Euros because their market was oversold. PCE numbers came in high but the algos don't care....
I don't expect FDAX to bounce up to the top, GERMANY IS IN AN OFFICIAL RECESSION! I predicted it all year, and it happened yet somehow their market is at ATH which is crazy AF. One of the most absurd things I've ever seen on the stock market.
I'm expecting a gap up Tuesday for a pump and dump but there is absolutely no guarantee, FDAX really needs to head down further
Anyways, recession:
www.cnn.com
FDAX1! Will Go Up From Support! Buy!
Please, check our technical outlook for FDAX1!.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 15846.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 16115 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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FDAX UpdateFDAX broke out to new all time high despite the lack of any good news. Europe is acting super strange, overbought on RSI and MFI but not sure that even matters, lol.
Expecting a gap up Monday because fundamentals and indicators apparently don't matter anymore, lol. (Yes, the indicators show Europe should go down and US should gap down, but the Euros don't seem to care.)
DAX Monday SHORT setup. 200 points range. Market Profile/ VWAP
Hello Traders:)
I expect a morning rebound after the market opens to the red line levels. Hence, I will look for an opening of shorts with targets marked with green lines. The first level of short is the upper limit of the market profile for both Thursday and Friday. This level has been tested many times. The second level of potential short play is the upper limit of the weekly VWAP, which was tested on Thursday with a dynamic decline. Take profit first is the middle level of Thursday's Market Profile, while my second target is the bottom level of Thursday's Market Profile. I am planning to enter a small position at level 1, with a stop loss above the 2nd target. The rest of the items I include only after testing the second level. Depending on the situation, I can exit 50% after reaching target 1, or hold 100% of the position until target 2. The planned range of a potential trade - 200 points.
I wish you all a great trading week!
FDAX DailyJust noticed that FDAX daily MFI hit overbought and rolled over, I guess that's why it finally had a down day for once, lol.
Based on what happened EOD today, there are still traders expecting the Euros to pump and gap the US market up, but that might be a dangerous assumption at this point.
My 3 hr indicators are neutral for tomorrow though.