Hello Traders! Check Related Idea for market context!!
I will update my idea as the trade progresses if any changes occur and my analysis is wrong, or need to be adapted to the new development of price-action. Thanks for the support! ----------------------------------------------------------------------------------------------------------------------- -----------------------------------------------------------------------------------------------------------------------
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This setup is still valid. Looking for unemployment rates news which seems to be friendly with long positions.
INotFancy
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@nentu, yes definitely, the key element here was patience, because nothing really changed structurally!
nentu
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yup, looking for 15640, as a first step.
INotFancy
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@nentu, Seems like the environment is going to be very slow today, DAX doesn't want to go up or down. Hopefully some volatility picks up later today or this week.
nentu
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@INotFancy, Dax was acting weird this last days but now we are in a 3rd wave of a 3rd wave and i strongly believe we will reach at least 15640.
nentu
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@INotFancy, 15640 - Checked. Next one should be 16050. Probably in 2 months (i wrote weeks...) or something like that ... Also there is a very strong resistance at 15815...
INotFancy
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@nentu, Yes, it's good that DAX is moving, and not just staying in a perpetual sideways movement. It's going to be exciting as to what's going to happen, because the top of the structure is all time new highs, and looking at the bigger overall market view (monthly/weekly charts) there's a probability that a major weekly down impulse/trend can happen sometime in the future!
nentu
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@INotFancy, This is getting to a "personal level" so sorry if this is too much ... but ... I wonder is there some power up or down there that knows when things are going to happen?!? just look at the end of the correction that was happening when corona crisis started ... it's just there like it was supposed to be there ...
INotFancy
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@nentu, I'm not sure I understand what you mean by "power"? But this is why it's important to bring the right mindset into trading, or you will just get into trouble thinking too much about "what" the markets are doing. When in reality it can be pure randomness, and we just need to identify that randomness to our best abilities (probabilities) and ride the market's ebb and flow.