This mornings Dax trade idea is a Short, based on a simple Double Top from yesterdays high marked in blue, with a profit target at just above the Daily R1 Pivot, with 25% left to run back to the Daily Pivot.
Its a set and leave trade.
Entry Short 12670
Stop 12700
Target 1 12625 at 75% Take Profit
Trailing Profit 25%
Have a great day.
J.
Main items we can see on the chart:
a) The price is inside an ascending channel
b) We can see a vast symmetrical triangle broken
c) Currently, we have a corrective structure above the triangle pattern (yellow lines)
d) If the structure is broken with a bullish movement, we expect a continuation of it towards the next Resistance Zone
DAX, not taking trades on a Wed has given us the most profitable result and no trades taken during the London session.
Great net profit, win rate and low DD.
We can test these functions in our strategy and see all trades visually on the chart for following the strategy moving forward.
Regards
Darren
Lots of effort but little reward (or "result") recently.
Wyckoff says if the effort is great but with little result, the trend is coming to the end.
Now volume is beginning to fall of as traders lose confidence.
Perhaps we will see a bullish move to the trendline, followed by a reversal of the bullish trend, the first target being the .382fib, followed by the .5
Price is consolidating right now and i believe the consolidation is about to come to an end. Price is stuck on a S/R area and looks like its about to make a move to the downside. The boxes are consolidation boxes and the smaller green box is a consolidation area but on a smaller time frame. Price has moved to the bottom half so it should keep moving. I've placed a...
We have formed a bearish bat pattern (not a perfect one) in June. In the beginning of July we have started to build a SHS pattern, which we just completed by breaking the neckline.
If we do not manage to reconquer the dotted upward trendline: Short with targets around 12.300.
Good luck!
Reading "The pandemic remains uncontrolled in the US, but the economic recovery continues apace" is not 100% good news. 4.5 million jobs in june still does not eclipse those 33 million lost. I think July is going to be a very volatile month and we might experience the DAX coming to 0.382 Fib level as of July 17 on wards, after reaching 12,800-12,900 level when RSI...
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...
come on how hard is this
i know i know
it s too simple
it s rubbish
SO TRY IT ....just for one week and then come back and like this as you ll be making money and hell i ll deserve at least a like !!!
1.618 is reached and starting signal of wave 3 of wave 5 came in.
Entry 12.570
SL below today's low of 12,485.
RRR better than 3 to 1.
Greetings from Hannover
Stefan Bode
