Today's MARKET STATE DAX INDEX **BEAR TREND**
- The MKT is on the offer and pressing into the lower extreme. On the SELL side accept UP REVERSAL strategies over FADES, expecting more of a trendless trading environment rather than a new negative trend move. Avoid DP BREAKOUT strategies but rather FADE into a positive reaction after a negative breakdown signal against the DIR. The MKT is extended and will have trouble sustaining any new weakness. Use aggressive position management and anticipate potential early exit points to reduce profit give-back.
- On the BUY side DP FADE and REVERSAL strategies are qualified, however the FADE is a lower probability and should use tight risk criteria. DP and DT1 REVERSALS can risk more but should also go for more profit with the expectation of the MKT putting in a short term turning point signal. UP BREAKOUT strategies are aggressive and should just "go" and not look back. Risk less; use aggressive position management and conservative profit limits.
Today's PRICE MAP Performance for DAX
Wrap Up
Today in the AUSTRALIAN DOLLAR futures market, traders were given an opportunity to execute the optimal trade for the session, the SELL UP REVERSAL, at our key inflection pivot (R Level). In a NON-TRENDING market environment, traders should look to the momentum oscillator tactics for a "tell" on the market. As our UP REVERSAL trade was setting up, the RSI was creating a BEARISH DIVERGENCE signal, giving traders the confidence to execute the short trade from the R. The market played out on the signal beautifully as it stabalized at the DIR for a bit before eventually ending the day at the DP.
Today in the AUSTRALIAN DOLLAR futures market, traders were given an opportunity to execute the optimal trade for the session, the SELL UP REVERSAL, at our key inflection pivot (R Level). In a NON-TRENDING market environment, traders should look to the momentum oscillator tactics for a "tell" on the market. As our UP REVERSAL trade was setting up, the RSI was creating a BEARISH DIVERGENCE signal, giving traders the confidence to execute the short trade from the R. The market played out on the signal beautifully as it stabalized at the DIR for a bit before eventually ending the day at the DP.
