Updated: Jul 24
Dax40. 11 07 2022. (click on charts to expand)
Quiet price action today and whether you finished up down or flat depends on how you managed trade entries. We did have level 1st tests to go for but the best entry of the day was right at the open or just after when it came back to test to top of the S zone (we also had a 1st test of S in the premkt but I am only going to count entries in the RTH session for the purpose of this exercise). As it was a pretty uneventful day and you could have made some good points if you took the early long or ended up pretty much flat if not I will scratch todays points and call it a draw lol i.e. 0.
Dax40. 12 07 2022.
Plenty of opportunity today by reacting to the levels posted prior to the open. The 1st test of S after the open was a loser but we had the opportunity to go long once price came back through S from the underside and retested the top of the zone. So a -25 loser could easily be mitigated by a + 75 ish winner. Thereafter it was a case of reading the action and reacting at preset levels. We came off the Yesterday low level at 775 for another 50 pts and then retested the premkt low of 708 then moved up again to the open level and bounced back down to 695 to again retest the top of the S zone. Holding this last entry was good for around 200 pts!
NB: once in a long trade the next levels of R above are to be used as targets for exit or scales not as short opps. Visa versa for shorts
Depending on how you entered and managed your trades there was easily 200 + pts of opportunity to be had
Dax40. 13 07 2022.
As noted on Twitter with the kick off chart we had a fairly quiet session prior to the US CPI data release. However there were trades to take as commented on the After chart above. While its always pretty hard to take a trade after such a big drop that occurred with the data it did set up a 1st test of key S. There was also a scalp entry at the halfback of the retrace of this drop which also coincided with the previous low of the day (LOD). These are repetitive set ups - indeed as are all the trades I show here and take myself. There is no need to invent reasons to enter - just mark up your charts and trade at clear and known levels / zones.
Dependent on whether you entered the 1st test of S after the data and or any other structural scalps I think its safe to say there were at least 100 pts to be had from todays action. Please note I didnt take all these trades - my point is only to show where to look for set ups and how to trade the dax from a day trading perspective focusing only on repetitive patterns and price action.
Dax40. 14 07 2022.
A slow (ish) start turned into a trend down day of sorts. After the 1st test long at S just after the open it was really down to your read of the market. There were still opportunities at pre set levels but by far the better opportunities came from reading what was unfolding and trading accordingly. There was opportunity to scalp levels at the back end of the zones (we were moving down remember so look to enter fades at the low end of S zones). But then we got a bear flag above 650ish which was the tell of the day. From then on we formed a tight channel all the way down to main S at 450. Whichever way you look at it by trading at zones already marked up and reading the pa there were @ 200 points on offer dependent on your entries and management. BTW I am deliberately rounding this results as it could have been more or less but the opportunity to earn that 200 total was clearly available. And... for transparency I missed some open goals today (shit happens lol ) !! If you want to know how I read the price action and trade in a similar way read my book :)
Dax40. 15 07 2022.
Not much to say about todays action other than if you got in on the 1st test of S you were probably done for the day. Everything else was initiated from that trade. not only was it off good S the pcc (prev day cash close) was in the middle of the zone and it was really a continuation from the green higher time frame S tagged yesterday. Moreover I´ve also noted the prior days Volume Profile as it shows that the VPOC was also right on the zone. Pretty good confluence to give you the nod to getting in long from there. The other entries were pullbacks to levels already set and noted! 250 pts available depending on whether you took the trades!