LeMercenaire wrote:Pjort wrote:Hello LeMerc
I can fully see why you are thinking about shorting the DAX - but please elaborate your techniuqe on what is your steps - like 1,2,3 steps, before you put your possible shorttrade on the DAX...
Thanks in advance...
I guess It is about that it should break a the first trading hours 1 hours candle closing point?? After i first have made a high on the number 2 , 1 hour candle?
s**t this is super difficult to explain in writtens words...
Hi Pjort,
I run two base moves on The DAX first thing in the morning (uk time). Both use the range. The first variant uses the single 06:00 - 07:00 candle...the second covers the double block formed by the 06:00 - 08:00 candles. I run these using Wick-Zone techniques, so basically I am trading a line.
Variant #1 tends to be smoother in its move, though you will pay more for running before the UK Open.
Variant #2 is completely bonkers in the way that it moves and is most certainly not for the faint of heart. It moves like a bronco with a burr under the saddle. Sometimes getting on is like trying to catch lightning in a bottle, however, the rewards are worth the drama.
Over the last six months or so, I have been layering Supply & Demand Zones on the charts and that has paid off handsomely. Now even more recently, in search of some sort of directional bias, I have experimented with the Schaff Indicator.
I will also, as the mood takes me, scalp down on the m5 / m1 level during high volume times. Micro-S+D Zones down there give incredibly precise entries (and this aspect can also be used on the original methods as well).
As for the chart posted and what's going on there, I was looking more toward basic PA on top of that S+D / Schaff info. On the H1 (or H4) tf, I would also look at any 1-2-3 entry - now this is not the 1-2-3 pattern you would know from Kreslik but an entry method used by my friend Too Slow.
Hello LEM
thank you very much for your thorough answer on my question. And sorry for my late reply - some family business have been going on and for the moment I am not ready to sit every morning trading. I live in Copenhagen, Denmark and actually I think a morning trade on DAX or Futse after Christmas will be my place to trade. For now I am just waiting to sort things out to be ready (affording some off time plus funding my account)
It seem that I am as fund of your trading style as narskob and as pleased by you posting your experience, plus giving advise.
Have a nice trading day and good weekend.