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While studying and trading this index, I have come to understand the level of mental toughness required.
While it can be a gruelling experience if you trade shorter time frames it can be much much easier if trading smaller on higher time frames.
I believe it can be tamed with a price action with trend, disciplined approach.
If you have the discipline to not become an emotional trader you can be around for the more obvious oppotunities that eventually arise. "Monster directional moves"
Two goals : Capital and Emotional preservation
As of Feb 19th longs need to punch up initially through 11850 then 11900 this would confirm bull control
I am neither only waitig for confirmations of current trend
Last weekly candle looks promising
Yes - there are many traders here on FIO trading the DAX. You will find all those threads using the "SEARCH" button.
I trade the DAX solely and have two journals with different approaches depending on the range situation of the price
of previous day showed.
BUT - "DAX IS A BITCH"
as our friend @ratfink mentioned often. And he is right!
The case is that some periods the DAX follows US indices and other times it doesn't.
One just has to find those evidences
Quite the range the DAX has covered in 2 years, now entering a critical zone, if sideways price action most likely = sell orders / distribution not long consolidation.
A PB from this zone would be expected
Based on my calculations Dax should tag 11890 tonight
Update: 11890 just taken out
11824 is next but not likely in this session
Update 11824 tagged I shouldn't be surprised this is the Dax
Consolidate around these levels imo
All the evidence I can see so far is a double top at the moment.
Weekly candles becoming very suspect and contain indecision
Further price action needed to confirm, has hit the critical zone as mentioned in previous post (12000 area)
Wait and see confirmation will come out in completed candles daily and 4hr TF
While studying and trading this index, I have come to understand the level of mental toughness required.
