Wednesday, 28 January 2015

Widowmaker?

The DAX used to be my nemesis many years ago. I traded other markets that supported my DAX habit. It was not a cheap habit. But I persevered and the DAX became my bread and butter.

If you look at today's pic you can see how wonderfully it behaves with the MarketProfile. Of course you have to get the split done to see where the real support and resistance is. There are 3 S & R areas that the price tested so far on the chart.  I had the price near the high of the day so far marked on my chart as a selling point as soon as the market opened. The VAH of yesterday's split distribution was a buy point the first time. As price was accepted in the VA, the POC became a target.

ALL these areas had to be qualified by order flow and additional  when price was there.




1 comment:

  1. Hi Tom,
    I have been following your blog for a few years and stopped when you & your daughter moved to auto-trading. I am still floundering around trying to find a consistent way to day trade. Looking forward to your e-book.

    I am planning to re-read your section "Key Posts and Information" and review my earlier notes from your blog. Would you recommend I still use the same chart settings and setups from 2010 (CCI(45,6...), 1.25RangeBars, etc) or is your focus more so on the MarketProfile aspect while trading?
    Thanks,
    Rob

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