Short DAX at 7740

ES obviously drives DAX during US RTH IMO, here is my entry off 2 min ES chart on DAX.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1533096>

 

Long 3, too good to miss

taking off 2 -0.5

stop below LOD on 3rd lot

 

AS, have a look at this chart. I am aware that you prefer to trade channel at the moment, but what do you think about this? This specific pattern is a money maker on 1,2,3,5,10,15,30,60,240 minute charts, this is a multi day format chart. I think that's a bit scary for the longs, they better take out that resistance IMO and soonish.

Actually I just spotted a 4th peak there, such a sneaky little peaky LOL

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1533392>

 

adding 2 lots

all out -4 average

FTSE open screwed up the set-up

long 3

scaled out 2 lots +10

b/e on 3rd


long 3

scaled out 2 +6

3rd -.5

 

4 Peaks a very good indicator of downward move in DAX, but I still work with my trailing stops ;=)

 

long 3

scaled out 2 lots +5,5

 

3rd b/e

Long 3

b/e

long 3

-3

long 3 same entry level

-3

long 3

-3.5

 

JJSPMK: No reply on the "Technical analysis doesn't work" thread? LMAO

 

Long 3

scaled out 2 +9

Expecting breakout of the W price action towards HOD

+10 on 3rd

Short 3

 

I saw the thread, but decided not to put my view across, I use TA exclusively and doing OK.