technical analysis dax signal

4pipsSake said:
Here are a few trades i posted ages ago in this section. You can see part of me setup here on the charts.

https://www.elitetrader.com/et/thre...-dax-traders-here.290016/page-10#post-4300628
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My system is a very high probability system , it is very simple , here is simple description for you.

longs :up channels on hourly and ticks , above mas and all indexes aligned
draw all your lines on hourly , 4 hour and daily and support and resistance lines .Observe trading times .Three green hourly bars on 30 min or hourly

Shorts:wtf:pposite

Follow these rules and it makes positive points on dax.

I sometimes trade options .Yesterday was a mistake , I got sucked due to lack of concentration.

Glad to have met you.

If you see above set up,please post.
 
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Not trading DAX at present as I have a rather large short on the ZB from 169,04. So am just managing that , with a few stocks also..
 
Trading Education Buyer said:
My system is a very high probability system , it is very simple , here is simple description for you.

longs :up channels on hourly and ticks , above mas and all indexes aligned
draw all your lines on hourly , 4 hour and daily and support and resistance lines .Observe trading times .Three green hourly bars on 30 min or hourly

Shorts:wtf:pposite

Follow these rules and it makes positive points on dax.

I sometimes trade options .Yesterday was a mistake , I got sucked due to lack of concentration.

Glad to have met you.

If you see above set ,please post.
More...

The system you describe here is a very normal old style method. It does work but compared to what my system does its something similar to the Flintstones.

I can see all the orders triggered inside the candles at each tick. As well as that I can configure it to show whatever number of block trades are entered. For an example, if trading the ES during Globex if i see a 50 lot block order buying at a certain level/number I know that's an important area. Likewise , if trading RTH (regular trading hours) I adjust my block indicator to either 500/1000 contracts. Using this you can follow the big boys.

It really comes down to yourtrade plan. My ES trade plan during Globex is to target 2 points per day. $50 per point per single contract. I trade in units of 4 contracts per entry. On a normal day i would trade 12 contracts targeting 2 points = $1200 per day average and consistently. The best day in the last 2 months was 48 ES points. My losses are minimal as i use an advanced trade management method and seldom take a 2 or 3 point loss, running at 77% win rate.
 
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Trading Education Buyer said:
I am out at 74 , 40 points profit ....top of channel resistance area
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My reason for exiting
exit.jpg
 
NICE SET UP DEVELOPING FOR LONG on dax , looking for lower time frame entry on 800 tick charts , with up channel on 800 tick charts and 1 hour

OTHER INDICES MIXED


2DAX.jpg
 
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