Welcome to this trading blog. The purpose of this blog will be to highlight simple trading setups and concepts which will hopefully help to increase account balance, minimise stress (due to trading) and make us all better traders. I only look at higher timeframes (1 HOUR AND ABOVE) and as such am able to walk away from my computer screen i.e 'set-n-forget'. I am also a believer in the KISS (Keep It Stupidly Simple) principle and try to apply this to my trading using simple concepts e.g. divergence, minimal number of indicators, confluence of factors, and most importantly PRICE ACTION.
Hope you all enjoy it.

10 October 2010

DAX

Hi Folks,

Been quite a while since my last post. Hope everyone has had good trading results over the past weeks. Just wanted to bring the german DAX to everyone's attention. It isn't doing much at the moment (except consolidating) but it looks to have formed an ascending triangle on the weekly chart.

Price is having trouble breaking the 6400 barrier but the bias remains bullish at the moment. I would be looking to go long if I get an appropriate signal (after breakout @ 6400).

WATCH THIS SPACE!!!!!!
Posted by Ayo Odunuga at 19:55

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