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Im trying to find out what caused the spike in the FDAX chart this morning (23rd July 2014) which seems to have kicked off at 9am Frankfurt time (8am London). I cant see anything on Fx Factory or Daily Fx.
DAX Trader here, via FXCM and Spot, 1 pip spread on FXCM just makes it too easy
Trades well from open to UK close, 1 minute charts for me, think I'm on 9 trades this week with only 1 loser, she's predictable at times, highly predictable, german efficency at it's best
Just UK Open I think, maybe that's when German markets open proper ?? if you check back you'll see a lot of similar spikes at 8am, I wouldn't hold over that time, looks like your SL will fare badly to me.
I wouldn't say it has been a spike; about 0.5%, 50 points, relative not instant. About two months ago we had an instant 2% down, it really looked as spike.
I think it just has been a flip, in this case up. Why?. Perhaps it was clear for big players that certain big Markets wanted to go up and FDAX joined the movement.
(Always IMO)
By other way; "ability for reversion as the fdax". Are you sure?. IMO again, I would say just "some" ability for reversion.
Yes I agree "some" would be a better choice of words. Its just that the fdax has a pretty unique and volatile movement in it that typically goes very well with the reversion type strategy I usually run on it. Im currently trying to find a way to head off those events where the fdax just takes off in a fairly straight line and doesn't even look back over its shoulder. If I could get that fixed Id be fine. Not sure if volume/tick analysis will be of use but will probably have to give it a go at least even just to eliminate it. All my entries are counter trend type which work great the vast majority of the time, until they dont...!!!.