Recommend to enter trade 1 pip above 2nd Bull or Bear Candle and to set stop-loss 1 point away plus spread.
Supply and Demand Which Also A Gap Level In DAX Index
Set take profit to previous Open Candle level, then just sit back and wait. Usually this trade will complete quite quickly in around 30 mins. Hope this helps guys.
Good Luck! Reactions: kingdomtradersdotcodotza , matfx and fxpete. Enivid Administrator Staff member. Nov 30, 15, Odessa www. This looks like an interesting strategy to work in the current more or less sideways market.
But would it work in a strong trending market? Thank you for your reply. Good question. The DAX market is priced by brokers overnight on spread betting platforms, meaning the market is synthetic. Brokers price the market based on the underlying FTSE market. Market conditions may delay the time taken to complete the reversion process as described in my original post but price does nevertheless revert.
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The only choice for us as traders is to decide whether the gap is wide enough to make a reasonable profit, For me, I only look at placing a trade where the margin for profit is at least 2R. On occassion, during bumpy conditions, our first attempt at entering the market may get stopped-out, but since our stop-loss is so tight, we can afford to place another entry; as always, patience is key, but this is rarely necessary.
Hope this helps.
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Reactions: Azalea and Enivid. Thank you for a detailed explanation. Now it looks more thought-out. My pleasure. Your feedback is very much appreciated. I'm a great believer in trading mechanical strategies, because we know in advance how much the trade will cost us, we know how much profit we stand to gain, and we know our chances of wining are far greater because we are using a strategy that is logically and statistically sound. Hope you have a great day. All the best. Oktober When trading range go on to long.
The probability for a breakout in the trend direction goes down to around As I mentioned in the spring, I think [Read more September 5 min chart: I got run over today on the open strategy. A nice bear sell bar on the open. The signal failed, as it will from time to [Read more We are now trading sideways and price [Read more Dax, Price action By Claus Andersen September 15 min chart: This week the uptrend paused.
Price broke the bull trendline and made a lower low. Price is still AIL on the weekly, daily and 4 hour [Read more September 60 min chart: On the 60 min chart price is nearing the target for the head and shoulders pattern. September Price action pattern in the DAX 60 min chart has triggered. It is a head and shoulders reversal pattern. Often after a break of the neckline the pullback goes [Read more August 15 min chart: The trendline on the wide bear channel is broken. Price failed to reach the channelline.
Strategies
That often leads to a break of the trendline, as it [Read more August 15 min chart: Today price took a nice bounce to the upside. The bounce came from a DB at the low of the TR. The pattern was a bear [Read more August On the 15 min chart DAX is always in short. Bulls did just manage to get a nice pull back.
I think it was strong enough [Read more He also goes over the open strategy and how it failed one day. Also read:Crypto video [Read more Juli min chart: So there has been a development in the DAX. After hitting the bull channel line price pulled back to the midline of the bull channel.
Now [Read more Juli 15 min chart: Price is in a congestion area now- below The price action is a trading range. A potential head and shoulders pattern is [Read more Last week price missed the bull channel-line. That was a sign [Read more Dax, Support and resistance By request Claus made a video where he explains how he places the support and resistance you see in his charts.
It is a short video with tips that you can use for your own [Read more Dax, Price action What classic pattern could have gotten you short in the beginning of the week? How did the open strategy do this week? What does Claus expect in the coming week? This and more in this [Read more May 15 min chart: Last week I mentioned that a test of A round number like that is often tested after a break.
That is what we [Read more Recent and expected context in the DAX. This and more in a technical analysis of the DAX. By our technical analyst Claus Andersen.
DAX is closing GAP
Dax, Price action Another successful week for the open strategy! Claus goes through the days and open setups. Also talks about the expectations on future market movement. You all have a nice trading week. Also read:Crypto video libraryDaytrading [Read more March A lot going on in this 15 min chart.
Why trade the Dax 30?
During exhaustion in the final day of last week price broke above the prior high, and the high of the [Read more March Price is still moving in the larger bull channel. It did fail to reach the bull channel line. That often leads to a break of the trendline. Price was [Read more February 15 min chart: Friday last week price made a bull spike. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument.
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