Hello Traders !!! Hope you are doing good.
I've been actively trading for 8 years now and in all my experience I have never seen the market being so out of place so this is why my favorite action now a days is to wait for the best moment to get in the market. I recommend using lower exposures.
DAX as I see it is under a key area that has been resistance turned into support and now is resistance again. So i will monitor the price action inside this area and what i will do is to sell DAX from inside those levels with a target of 12250 but this is only if resistance holds in place. If it breaks above that, i will not buy. I will wait for the price to move higher and cover the gap at 13500 and from there open a sell with target back down to the area mentioned on the chart @ 13000.
Patience is the key in today's market.
Please share your ideas and your thoughts in the comments so we can grow together. Best of luck
I've been actively trading for 8 years now and in all my experience I have never seen the market being so out of place so this is why my favorite action now a days is to wait for the best moment to get in the market. I recommend using lower exposures.
DAX as I see it is under a key area that has been resistance turned into support and now is resistance again. So i will monitor the price action inside this area and what i will do is to sell DAX from inside those levels with a target of 12250 but this is only if resistance holds in place. If it breaks above that, i will not buy. I will wait for the price to move higher and cover the gap at 13500 and from there open a sell with target back down to the area mentioned on the chart @ 13000.
Patience is the key in today's market.
Please share your ideas and your thoughts in the comments so we can grow together. Best of luck
Comment:
Placed a positive stop loss on the trade. If it will be triggered I will watch again the same levels to reopen.
Comment:
Just closed DAX with 60 points of profit because i believe it will try again to test the resistance. The setup is still valid. if the resistance holds then I will reopen Sell, if not I will wait for the price to reach the gap and then reopen sell. I believe it to be too risky to open buy at this prices.
Finger crossed