I see some rejection from resistance level and closed below the area. There are also untested targets below. I believe DAX is going down to test support zones. I'm planning to use multiple entries. I will; short at the beginning; add if the price goes up little bit more and add if i see a close below 11608. This is 1:4 short setup so stop is very tight. If stopped out and price goes back down, I'll jump back into the train.
There's also another trade idea for me. I only go short if i see a close below 11608 with the same stop and target.
Entries: 1. Beginning of the new hourly bar 2. 11670 (sell limit) 3. 11605 (I will wait for a close)
Total risk: 3% of account balance (1% for each trade) Risk to reward ratio: 1:4 Stop Loss: 11711 (73 pips) Profit Target: 11346 (292 pips)
Trail: I will trail the stop loss accordingly...
Disclaimer: This is not financial advice. Educational purposes only.
Trade safe Atilla
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Here's one more stop-loss idea as this RRR is very high: