Short

Dax - The long way down !

Updated

dji/dax is inversly corelated with gold and eurusd . Also eurusd is diretly corelated with gold . Gold is up and so eurusd is up .
Therefore dji/dax must go down as long as gold and eurusd goes up . Please see my previous and my first published idea too .The long way down .

Trade closed: target reached

Reentered short at a better price 12455 this morning , then tp1 12320 reached .
But again us30 do not follow - almost flat . So I'll wait for US open , but I feel that doing so I can miss the start of downfall for us30 the twin brother of dax . So I'm looking to short both .

Note

:( , yep missed ! I thought that this low will hold . But as I said yesterday quote :
" That low of 12320 will be retested soon . Maybe today . Already tested on June 30 , and July 06 . And who knows ? Maybe the third time is lucky " . And so it was - third time lucky , and I was not in :( .

Note

but that stupid US30/dji/dow has confused me .
Again as in last 2 months the difference between dax and dji variation has gone from 250pips to 500 , today at over 700 and now 820pips .
That is because mostly dax has gone down and dji up .

Note

oil is down today a lot too but us30 not enough down . For similar fall as dax from the peak of 12950 to 12200 that is 750pips , us30 must fall 800x1.76=1320pips and that will drag dax a little bit more down . So I expect a fall in us30/dji of more than 1500pips down to dji at 20000 . (1.76 = 21500dji / 12200dax)

DoubleMan

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