For what it’s worth: my gut says we have overstretched to the upside and should see a bit of downside action.
DAX closed, so Nasdaq 5 min chart.
Quick stupid trade back to breakout. And I could not even wait for my tiny target of 9434, wasted about 5 points. This is a smart-ass way to go broke.
14:47 After missing a couple of setups I am finally short in the DAX. But bullishness is relentless and I am immediately down a bunch of points. So I entered a second time…two contracts short.
And before I can finish typing this post, I am already out of both for more or less a breakeven result.
16:10 Just caught a pretty aggressive short entry in Nasdaq. Let’s see how this acts. Interestingly, the DAX is relatively strong compared to Nasdaq.
Set up a BE stop. Getting very close to taking me out.
16:16 …and out! Argh!
16:20 Trying again
Stopped out again for BE. DAX strength is dragging up, killing my entries in Nasdaq.
16:25 One moreentry, Nasdaq hanging on to the 30 sec downtrend. If this goes wrong the scenario is off.
16:29 Stoploss set at BE.
Out for a nice win at 9421.