- The mkt IS in a sideway digestive position with a slight positive bias.
- On the SELL side avoid DP BREAKOUT strategies but rather FADE a positive reaction against the DIR after a negative breakdown signal UP and UT1 REVERSAL strategies are recommended over FADE strategies as “sloppy” trading conditions are expected. Any UP FADE trades should get confirmation first.
- On the BUY side UP BREAKOUT strategies are valid but should expect a laborious trade. Work any position, selling into emotional surges and re-entering on any sharp pullbacks. Expect a choppy trade and be aggressive on minimizing profit give-back. DP and DT1 FADE and REVERSAL strategies are recommended.
Today's PRICE MAP Performance for DAX
- Today in the DAX INDEX futures market, we had extremely choppy market action staying true to the NEUTRAL DIGESTION market state. With an MC Value of +3, we know that there is a slight positive bias on the neutral market state, and we should look to accept buy signals ABOVE our R Level. Around 2:00 AM, the market gives us our opportunity to enter the market with a BUY DP REVERSAL strategy as recommended by our market commentary. Our expectation is for price action to stay within the Critical Range and position management should be tight. The market rallied sharply up to the DIR at around 3:30 AM where it digested for the better part of the morning session. After failing to penetrate the minor level at 7352.0 at 7:00 AM, the market began a rally that eventually made it up to the upper end of our expected trading range at the UP.
