Thursday Jan 14, 2021
The descending broadening wedge has broken to the upside and we have an upsloping supportive trendline visible on the lower timeframes. Overall, the market is in a short-term consolidation which is a negative for trend-following momentum-based strategies.
Another difficult day in terms of trading conditions, but I managed to claw back some of the earlier losses with the final trade of the day, so it wasn’t completely terrible. The DAX daily signals gave two stop losses and the FTSE daily signal was closed at breakeven. And on DTI I had two DAX stop losses (both longs) and FTSE gave me two longs of which one was closed at breakeven and the other ran all the way to 8pm, where I closed it for +2.8%.
Four stops at -1% each and one winning trade for +2.8% left me down on the day overall.
Wednesday Jan 13, 2021
Tuesday Jan 12, 2021
Monday Jan 11, 2021
The German DAX remains bullish above the 5th January low, ~13,566 and will remain bullish if we hold that low AND break to a new high, which means a new all time high is required to sustain the bull trend.
As for trading, the morning signals that I release in the premium channel didn’t yield too much today. The DAX short was stopped at breakeven and the FTSE short was stopped out. I didn’t re-open the FTSE short, but you’re welcome to, because in this case it would have hit target on the second attempt.
So whilst the morning trading signals didn’t yield too much, the trading strategy was amazing today! Congrats to you lot using it.