We have already seen quite a bit of activity this morning on the DAX30. The activity goes for all the major indices. But luckily for us, we were holding a short from one of my algorithms yesterday. The algorithm is based on Chris’s mean reversion strategy. It offered this signal yesterday:

Type: SELL
Symbol: GER30
Price: 13186.25
SL: 13198.77
TP: 13076.91
Time: 15:19
Ticket: 70453777
RVR = 5.35

We closed out early, for a decent profit, but it’s good to see the price run to the target on that one.

This signal came from one of the premium telegram channels that Chris uses to shares signals from his strategy. If you want to know more about the strategy, send me a message on Telegram by clicking this link: https://t.me/DaxTrader

23-05-2018 Dax Trading Idea

So I have posted an idea on the today’s ideas page, you can see that by clicking this link: https://thedaxtrader.co.uk/todays-trading-ideas/

If we analyse the action from this morning you can see that the gap is lower, the gap is closed, and then we see a 165 point drop, straight into the buy zone. I was recently discussing 13,000 as a potential buy zone, and it still looks valid despite overshooting that this morning.
So we are watching to see whether we get a reaction at this area, or whether the price continues to turn around and head lower.

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23-05-2018 Dax Chart Analysis

Looking at the 20-minute chart, we have broken below the centreline on our ACR line set. Therefore, I am removing that ACR line set. I am drawing a fork here as I am wondering whether we are forming our C point for a pitchfork.

From here we are looking to build a strategy.

The trend-defining level still remains at 12,915.