It has been a long time since my last blog post. I have been trading. I thought I will write a quick review of FESX (DJ Euro STOXX 50 futures) since it is one of the product I frequently trade, and observe some interesting development now.
We are in a 7-day bracket (i.e Price rotates up & down without clear directional conviction.), and yesterday (Monday) we had a false break at the bracket low and previous swing low at 3375, and immediately, we saw short covering which brought the market back to bracket high. The day ended with a short covering profile (P-shaped profile).
This is a going to be an eventful week with ECB president speaks, AUD, GBP interest rate decisions and Non Farm Payroll at the end of the week. It will be interesting to see if we can finally breaking from this box.