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
Note
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!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I know Kung-Fu!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.