Short DAX at 7740

Flat. 11:00 CET

 

I also went long Dax yesterday evening but look what dax makes out of ES+8 points.
Dax does not want up, its that simple. If it would like to go up it would be up 50 points now.
Better go short any time now, can hedge with ES long.

Phil

 

Price stuck below pivot, short term chart is certainly bearish, failure swings with lowered histogram, but 60 minute chart is still basing for upside. I guess you are right by being short right now, though I would be ready to go long. Personally, I am still long, I did buy some puts yesterday after a failure breakout.

 

Closed my short this morning. Thinking about reversing, but will wait for the US!

 

30 min MACD=coiled spring, watch out shorts

 

added short 8028
Still hedged first short with 2 ES long, but will soon cover hedge.

 

Why are you short, everything points to upside break ImO, I am just curious.

 

Technical buy signal + low of channel

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1644505>

 

there was a strong divergence between ESTX and ES compared to Dax which strongly lagged behind. Normaly such divergences continue, but not in this case as Dax released this to upside.
It was clearly not a good trade, but you never know that in advance.

 

Understood, thanks for explaining.