Wow. You guys go for gigantic targets! I rarely get a move like that, I just bite a bit out of the move. Believe it or not, that 30+pt move, I only got 7pts out of that (in one go, though!). I also took a net of 4.5 scalping from the LOD, and another 2 before the fall. Right now it's setting up for what looks like a nice shape to go short (larger move)... See how we go. I guess my small chunks got to do with me wanting limit prices, but I think most of the time it protects me more than letting me miss out.
Update: Short shape worked out. Entered 10:48 @17.50, partial fill, exit 10:56 @ 7.50. 10 points. This time, I sat on my hand and forced myself to hold on. More luck than skill, though. Baruch, see that massive rebound? That's exactly what I mean. If you enter at market, it can get very hairy. I've reached my daily goal, it's 11:00 EST, I'm cutting back / watching now.
Frankly, I think I just overtook Keppe. Nice work for a single trade, though! Was about time, though. The DAX open didn't go too well for me.
my syle is: 1. enter early 2. get out at first retracement top/bottom before it retraces. Reverse at first retracement with very tight stop.. (2.5points). Prepare to reverse again and wait if it is a retracement, not a revrsal. 3. If it is a reversal just wait for the first retracement...I have a series of indicators on DAX which combined give the same signals but at different points in a move.. the early one is very sensitive.. so in the 33 point fall it was short at 4040 and long at 4012 - a VERY good indicator for big moves... ((CI>CI.1 and CI#1>CI#1.1 )-(CI<CI.1 and CI#1<CI#1.1))+(((CI>CI.1 and CI#1>CI#1.1 )+(CI<CI.1 and CI#1<CI#1.1)=0)*((CI#1>CI#1.1)-(CI#1<CI#1.1))) where CI = SLOWD 13,3,3 exponential CI#1 is True Strength Index 7,18,3 Long when >0, short <0.. usual rules about consolidations/flat trading/tight ranges
That rebound looks heavily overbought, and we've just made a lower low... I'd say I'm looking for the short side now.... Still... Edit: Despite the bullflag... Ughh... I'm still waiting for confirmation. If it breaks out, It'll break out big. Never have a short right below a possible bull breakout setup...