Index broken the two months range and climb above the resist level last Friday, expect the range that was form in the last two months has become a strong support towards higher level for this month. But once index reach the resist zones, we need to be careful, as strong pull back correction could turn to a reverse trade.
How to Trading my S/R lines and Zones
Most importantly is to know my trading concept, treat it as a road map and the price/index is but the buses.
S/R Zones - Are the Bus Garages Moving Candles - The Buses White Lines - The major destinations of the route from A to B of the week or month Light Blue S/R levels - Are the bus stops one can get on and get off the trade. Dark Blue Lines - These are the half way petrol station that act as half way stop between destination A and B towards the next Zone, one can get on and get off the trade here too. Orange and Green Lines - These are the traffic lights, trade often stops here. Red Lines - Road block, bus (trade) could reverse. Engulfing Candles - Majority travellers.
To get on the buses, if not sure, wait for majority travellers to get on the bus first to confirm the sense of direction and then get on the bus on the next new bus. Only get on the bus when bus reach the bus stops, petrol station or bus garages, DO NOT jump on the bus while the bus is running in the middle of the highway!!
I believe this down trip is but a big shake off, index is now at the bottom zone of this chart, expect index to gain back the buying power soon as long as a DAY candle will not close below this last support zone.
I will be update a new S/R zone forecast chart for this index tomorrow, so check iy out then. Thanks for your comment. Cheers
solfege85
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hello.what do you think about the latest move of DAX? is it the beginning of reversal move or stay long is always a good option?
happy trading
I will be update a new S/R zone forecast chart for this index tomorrow, so check iy out then. Thanks for your comment. Cheers