Looking on this daily chart below, the bounce yesterday from the down-sloping high-to-high trend-line seems to be holding. A break below yesterday’s low is something to watch now. However, if a bullish retracement continues from this low, then we may see a minor relief rally up to an exposed point of control.
On the hourly chart. we see a series of lower lows and lower highs remains in place. Notice how we missed the median line , so if we break through the lower median line parallel, a new lower low will form and the trend remains bearish. Breaking above  doesn’t reverse this minor trend. Technically the trend remains bearish below 11640 (futures), slightly different for CFD.
The overnight high did take out the high of yesterday, but no further progress was made this morning. In actual fact, the market cut through yesterday’s entire value area and is currently hovering around the POC. Friday’s POC remains exposed at 11470, so if we see a rally today, then that would be an obvious target.
|DAX KEY LEVELS|
|FDAX KEY LEVELS|
|Point of Control :||11365|
|Value Area High :||11377|
|Value Area Low :||11335|
Find out more here: https://thedaxtrader.co.uk/daxtrader-signals-results/
Five signals yesterday, the first three all started very well, getting into profit and allowing me to move my stop loss to breakeven. There was opportunity for all followers to make some money on those three trades, but I don’t exit a trade for small wins unless I need to. I prefer to hold them for larger wins at the risk of being stopped out at breakeven. Which is what happened.
The other two were losers.
Remember: my strategy involves lots of small losers looking for the large winners. I have a statistical edge with my strategy, and this is a numbers game.