The Iran war and all related reports continue to be the driving force on Wall Street. On Monday, the hope for peace was responsible for a very strong day, but on Tuesday the levels were sold again. After the Iranian Foreign Minister’s statement that he would not comply with the US peace plan, prices came under pressure again.
First we looked at the DAX, which has been trending downwards since the opening high. The morning GAP to Wednesday’s closing price was ignored. We saw the break at midday and the attempt at a reversal again using a trend line. However, it “only” led to a short-term retracement of over 22,700 points and no longer to the daily high. A similar setup presented itself a little later, so that another long movement can be expected in the DAX in the afternoon.
A similar picture was shown by the Nasdaq, which also opened with a GAP and also fell below the round mark of 24,000 points. I also wanted to create a long entry by visualizing the movement using a trend line. But first I waited patiently for the move to the premarket low, which happened after 15 minutes of trading. A short new low and then the retracement were the signal, which you can see again in the video. As an example of the current strong movements, the return to the around 24,000 mark in the Nasdaq had to be planned for. I linked a take profit at 36 points to the order in live trading and was able to realize the profit quickly. The fact that the market built up more momentum and reached 24,000 a little later was not a reason for sadness, but rather just the completion of possible goals. Here we looked again for a reversal in the chart image and found it at the end of the webinar…by the way, after Donald Trump’s speech there were new daily lows!
At the same time, the Dow Jones rose 250 points at the opening and the S&P500 jumped 20 points within 5 minutes. From this alone you can see how nervous there is on the market and how excited many market participants are for further reports from the crisis area. The oil price rose again above $100, which is likely to slow the market in the medium term.
Your performance shouldn’t be slowed down, so at the end of the webinar we looked again at a few advantages of the trading diary and what there is to record. Especially thanks to the export of transactions in the web trader, the WH SelfInvest account is an ideal start for scaling your trading.
The starting point of the next Traders Circle session will then be back to normal around 3:15 p.m. on Tuesday after the European time change.
Be part of it interactively from the next live trading format:
Risk notice
This article is the personal opinion of the author. It serves as information only. These analyzes should not be interpreted as investment or wealth advice. An investment decision regarding any securities or other financial instruments requires background knowledge of your personal situation, which the author does not know. This content is out of date and will not be updated after publication.
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