FX:GER30   DAX index of German listed shares
259 9 5
6 months ago
I'm bearish the Dax             which might be going a little against the grain here but I think this consolidation is now coming to an end and see a good RR reward here if price breaks to the downside.

At this level the risk is minimal and I've now entered at 10070 with a stop at 10160. If price does break up and makes a new high above consolidation I can then have my eyes set on 10300 and or 10500 which will offer another good RR opportunity.

Since I am seeing this consolidation coming to an end I am therefore setting my sights on the April lows shown in the blue box as my target.

Good Luck
6 months ago
Trade closed: stop reached: Trade close the DAX Machines triggered my stop on the open.
ZenTrader17
6 months ago
well courageous move i have to say. since you are going against the move. DAX just hit your stop level!! is ok to be a contrarian...but never disregard market sentiment.
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BTCMarket PRO ZenTrader17
6 months ago
Yeah I wasn't worried to be honest there are 2 other good levels I have my sights on and since this was a contrarian play I wasn't going in guns blazing so the position sizing was smaller than normal so the hit was minimal.
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ZenTrader17 BTCMarket
6 months ago
great! nothing worse then over committing to a trade. especially and index like the DAX this thing can move.. i believe ATR is 120
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BTCMarket PRO ZenTrader17
6 months ago
Strange just logged into my account either my chart is broken or yours the DAX never made it to my 10160 stop I double checked my account never triggered what does your chart show?
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ZenTrader17 BTCMarket
6 months ago
yes is up to 10190 now. did you logged in into your real trading account ?i don't think tradeview feed is live...could be wrong
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ZenTrader17
6 months ago
as they say on the street " you can go broke being right"
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BTCMarket PRO ZenTrader17
6 months ago
Yeah true! Still bearish here, with price action looking this bullish I'll buy today's dip looking to sell 2300/2400 depending on price action for 9500. Thanks.
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BTCMarket PRO BTCMarket
6 months ago
Sorry 10300/10400 with 9500 target.
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ZenTrader17 BTCMarket
6 months ago
all the best.
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