- The MKT has a slight negative bias in a difficult "choppy" trade. On the SELL side DP BREAKOUT strategies are valid but should expect a laborious trade. UP and UT1 FADE and REVERSAL strategies are recommended but profit should be taken at initial targets. The probability is to the downside today but is not a day to press it.
- On the BUY side avoid UP BREAKOUT strategies but rather FADE a negative reaction after a positive breakout signal at the DIR. DP REVERSAL strategies are recommended over FADE strategies as "sloppy" trading conditions are expected. Any DP FADE trades should get confirmation before executing. Position management adjustments should be anticipated for all longs as sideways trading conditions can quickly erase profits.
Today's PRICE MAP Performance for DAX
- Today in the DAX futures market, we had a textbook breakout strategy that performed to our expectations. With a slight negative bias in the NEUTRAL DIGESTION market state, traders should look to get short the market below the R Level. Our market commentary tells us to accept SELL DP BREAKOUT signals, a strategy that is in-line with our sentiment bias. Our expectation on the breakout signal is a move of 2 APMD, in this case, from the DP to the DT2. After finding support at the DP from 4:30-6 am, the market finally broke below the DP signalling traders to get short. The market confirmed the trade immediately with a sharp sell off that took prices all the way down to our DT2 just after 7 am.
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