I see some rejection from resistance level and closed below the area. There are also untested targets below. I believe DAX is going down to test support zones.
I'm planning to use multiple entries. I will; short at the beginning; add if the price goes up little bit more and add if i see a close below 11608. This is 1:4 short setup so stop is very tight. If stopped out and price goes back down, I'll jump back into the train.
There's also another trade idea for me. I only go short if i see a close below 11608 with the same stop and target.
Entries:
1. Beginning of the new hourly bar
2. 11670 (sell limit)
3. 11605 (I will wait for a close)
Total risk: 3% of account balance (1% for each trade)
Risk to reward ratio: 1:4
Stop Loss: 11711 (73 pips)
Profit Target: 11346 (292 pips)
Trail: I will trail the stop loss accordingly...
Disclaimer: This is not financial advice. Educational purposes only.
Trade safe
Atilla
I'm planning to use multiple entries. I will; short at the beginning; add if the price goes up little bit more and add if i see a close below 11608. This is 1:4 short setup so stop is very tight. If stopped out and price goes back down, I'll jump back into the train.
There's also another trade idea for me. I only go short if i see a close below 11608 with the same stop and target.
Entries:
1. Beginning of the new hourly bar
2. 11670 (sell limit)
3. 11605 (I will wait for a close)
Total risk: 3% of account balance (1% for each trade)
Risk to reward ratio: 1:4
Stop Loss: 11711 (73 pips)
Profit Target: 11346 (292 pips)
Trail: I will trail the stop loss accordingly...
Disclaimer: This is not financial advice. Educational purposes only.
Trade safe
Atilla
Comment:
Here's one more stop-loss idea as this RRR is very high:
Trade closed: stop reached:
Did not trail the stop and stopped out
I know Kung-Fu!