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
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Good luck!
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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.
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