10:34am CET
Here's what I'm looking at right now
(Doubleclick on the picture to see it, as it's going over 3 19" flatscreens)
UK news have been released just 4min ago, I've made 2 profitable trades this morning and ask myself now
- What shall I do
- Shall I do anything at all
- Is there a setup
Quick analysis:
- The German DAX is rangebound and flat
- The FTSE looks like it might bounce on the slightly weaker PMI data
- The Spanish IBEX35 is rangebound as well. I usually no longer trade it, but it's an extremly sensitive contract, as it is very thin, so movements influencing not only one but most markets in Europe will be seen in a spike in the IBEX35 first.
- And last COIL (the Brent Crude contract traded on IPE) seems to be set to close Friday's Gap
- The trendcharts (30min charts, to the left) tell me: the Euro is weakening, YM is flat, Gold is consolidating, only the french CAC40 is showing something of a reversal pattern.
No trade (and writing this article instead)
- I had missed the COIL entry at 58.20
- DAX can go both ways as it is oscillating around the POC (red line)
- FTSE might be a long on data, but the Pound is going down and I'm not yet sure, if there really is an inverse correlation between the British Pound and the FTSE.
- As I already said I usually don't trade the IBEX35
Back to watch mode.
Maybe I will take a break, relax a bit and come back in 2 hours to see, if a setup presents itself then. No need to force a trade, when I already made 80% of my daily goal in the first hour of trading.
