A video showing our settings on trading the Dax and how powerful a high RR can be in overall net profit.
I also touch on sticking to your plan and accepting that any strategy has a losing run from time to time!
What would you do after the 4th trade? Let me know.
Regards
Darren
Good morning from us!
Here's a little update of what we believe will be happening with the DAX over the next few trading sessions:
The daily is making yet another test of the broken contraction.
The 4H seems to have formed another contraction after the breakout and now retest of major contraction.
The 1H is heading to test the top of a bullish channel...
Trade Idea
A bullish reverse Head and Shoulders has formed.
Neckline support is 11850.
Price action looks to be forming a bottom.
Bespoke support is located at 11815.
Further upside is expected although we prefer to set longs at our bespoke support levels at 11815, resulting in improved risk/reward.
We look to Buy at 11815
Stop: 11750
Target 1: 12010
Target 2: 12200
Looks like this is getting away from our ideal entry level. However, it looks a good candidate to buy on dips on the short term.
Trade Idea
Broken out of the Head and Shoulders formation to the upside.
Positive overnight flows lead to an expectation of a firm open this morning.
Price action looks to be forming a bottom.
Bespoke support is located at...
Trade Idea
Broken out of the Head and Shoulders formation to the downside.
We have a 38.2% Fibonacci pullback level of 11773 from 12598 to 11263.
The trend of higher lows is located at 11761.
There is scope for mild buying at the open but gains should be limited.
Preferred trade is to sell into rallies.
We look to Sell at 11770
Stop: 11820
Target 1: ...
Trade Idea
Broken out of the Head and Shoulders formation to the downside.
Bespoke resistance is located at 12295.
There is scope for mild buying at the open but gains should be limited.
The formation has a measured move target of 11727.
Further downside is expected although we prefer to sell into rallies close to the 12295 level.
Stop: 12345
Target 1:...
DAY TRADE - EXPIRES AT 9PM
Trade Idea
Trading within a Corrective Channel formation.
Bespoke resistance is located at 12300.
There is scope for mild buying at the open but gains should be limited.
Broken out of the Head and Shoulders formation to the downside.
Preferred trade is to sell into rallies.
Expect trading to remain mixed and volatile.
Stop:...
DAY TRADE - EXPIRES AT 9PM UK
Trade Idea
Trading within a Corrective Channel formation.
Bespoke resistance is located at 12400.
There is scope for mild buying at the open but gains should be limited.
Continued upward momentum from 12195 resulted in the pair posting net daily gains yesterday.
Preferred trade is to sell into rallies.
Expect trading to remain...
I have been watching the DAX H&S form for a while now. This pattern has now been confirmed with a break and weekly close below the neckline.
A descending neckline indicates fundamental weakness and could imply a swift drop.
I am short with a first target in the 10,700 area, and my ultimate target under 10,000.
DE30EUR is decreasing. The exchange rate generates a second downward wave of a triple wave structure. The target price for the second downward wave structure may be around 11783. Then we expect a correction wave structure. Its peak is the intersection of a D1ATR axis. Area of 12215 level. Then the third downward wave, which is the target price of 10882, is completed.
Dax has broken its legendary support zone a few days back and now it is retracing upwards.
I would wait for the price to a little higher and go short around 13050.
levels to watch 13050. 13100.
This is not a low volume pocket, it's a low volume black hole! But rather than having its own gravitational pull and acting like a vacuum, it's repelling price like opposing magnets. I think it highlights the zone that price will likely find, if/when it breaks.
