davidpont wrote: Mon Feb 10, 2025 7:12 pm I would like to think loud here regarding DAX this morning.

We are after the London Open. It is also Monday, we should wait to see the true trend for the day.

Regarding the HTF analysis and market structure.
We have a HH from last week, but it is not yet "confirmed" with a second dot.
DAX_H1.png

This gives me conflicting thoughts. Because checking the daily behavior. We are currently above the Daily Open line and based on also the MM lines we should go for Long positions after pullbacks.
DAX_m5.png

But the conflict here is that due to the DN Circle we should aim for Shorts.

What do you think about that?
(Overall, I would select Long Bias and look for these entries in this session.)

Cagliostro wrote: Mon Feb 10, 2025 8:22 pm You can trade against the Circle but I advice you do it if you really feel sure about what you are doing. It would be a pullback, and it's ok, I do it often, but ensure you track the trade and exit asap if price action shows you that wants to go down.

In this situation you need to wait for a blue second dot, it can happen around 21.800 or lower at 21.700, where you see the black levels, they are strong magnets for price.

davidpont wrote: Mon Feb 10, 2025 9:48 pm But still has to be cautious with the Long entry, because it has a higher chance to turn down in the following days, right?

DAX_m5_2.png

As this is my first actual trade with this setup, I have to ask.
Is it normal that I cannot see the dashed lines for the positions?

They are there, because if I drag the cursor there, I am able to adjust the SL manually, but I cannot see the lines.

Did you add a ZZ line indicator to the setup to see the market structure?

Cagliostro wrote: Mon Feb 10, 2025 9:52 pm The overall trend of DAX is bullish, so longs are ok. Just be careful of resistances (it could go up to 21859-21.877 and if it gets rejected, the next entry would be around 21695-21728) after a drop.

davidpont wrote: Mon Feb 10, 2025 10:13 pm DAX_m5_3.png
If I am not mistaken this is the first probability level of the impulsive Gann triangle, am I right?
Yes, around that level.

Also, we have 2 black levels with a demand zone around/above that value, which could give us a price reversal in that area, so has to be extra cautious with risk-taking.
Totally agree, that's why I did not take the trade, there is not enough "space" for a decent R:R.

How do you anticipate the level/rate of the drop? Retesting the supply zone and the bullish black levels? (or call it buy-side liquidity hunt?)
In that area price can retest openline and the first bullish level created at day start. Lot of liquidity, and sweep below the current blue dot. I prefer to wait for a pullback and then enter, otherwise today won't play with DAX

(side comment, we are after 3 hours of the LO and also Monday, so for now DAX should slow down and offer less volatility, am I right?)

davidpont wrote: Tue Feb 11, 2025 6:06 am Well, I think I should reflect also on bad entries to filter them out in the future.
Even though I was aware of feeling FOMO, still could not resist opening a position before confirmation.
DAX_m5_4.png

(Added the OpenPos indicator from Beats' system to show the entries)

My bias was bullish and I was so convinced we would fly to the marked supply zone shortly. The RSIOMA was still around 45 even though the Arrow up arrived.
But as it went down I omitted the opposite arrow and added to the position to average down on the entry. (Which I know rationally is wrong )

The market had no momentum and confirmed trend, so that was not a real entry. Should stay out of the market.
May I ask for a comment about that?

Cagliostro wrote: Tue Feb 11, 2025 10:57 am All the indicators are there for a reason. If you choose to take a decision on a feeling, it's ok as long as you feel ok to learn from the loss. RSIOMA must be over 50, better 55.

davidpont wrote: Tue Feb 11, 2025 6:57 pm Thank you for the reply!

Exactly that was my intention with my post to learn from my mistake and be mindful of it.
I am also highlighting this deviation from the optimal mindset in my trading journal.

Question regarding the RSIOMA, only the value is the filter or does the inclination of the curve also give information?
(thinking of higher momentum if the inclination of the curve is higher.)