We are currently forming a triangle on the Dax with lower highs and higher lows. This pattern suggests price is coiling up like a spring, building energy for a break. Right now, we are trading close to the middle of that triangle which tends to be no man’s land, so trading this particular pattern is a challenge. Sell at the top and buy at the bottom, but avoid trading in the middle.
Another clue that we are consolidating is the much smaller opening range from this morning. It’s not conducive to an interesting, fast-moving, trending day. So I will keep the article today very simple: I am currently interested in buying at 12085 and selling at 12245.
Most of the analysis has been done on my charts. I have taken a screen shot so you can see them.
These charts are available to see on the Live Room screens. The chat facility in the Live Room and my Journal will describe the thinking behind the charts and often there are trades to be made from them. Trades that fulfil the minimum 3:1 criteria will be replicated on my MT4 account and sent as signals to Telegram.
Live Room and Journal and signals are only available for Premium and Gold members. However, you can receive more updates for free in the Broadcast Channel on Telegram.
Original Value – $125
Current value – $183
Although, I reached an all time high yesterday: