Anatomy of a Trade

There was a very nice trade today I thought I'd describe in a little more detail than usual.


DAX opened in a downtrend. I had a nice trade and was looking for a pullback for another. It came pretty quickly.


The 33EMA was resistance and everything showed a downtrend increasing order flow south.There was a small pullback after the market had been oversold. I ignored this trade as I expected the oversold condition to need some sideways movement to shake out.


In fact, there was another pullback resulting in nice 6 CCI divergence and this was my second trade that I held until the first green brick with 63 CCI divergence.