Day trading the opening range on the DAX

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Trading the opening range

If you have seen previous videos that we have posted then you will know that we always prepare to trade the open in the same way. Very often indices and Forex markets establish a pre-market range that it is possible to trade during the opening hours of trading.

Today we establish a range between yesterdays closing price and a recent swing high and wait to see how the market reacts to these levels as it reaches them.

The open today was fairly close to yesterdays close and prices had bounced off this level twice in pre-market trading. When the market reached this level once again just after the open at 8am we are on the look out for signals that it will once again rise higher.

We always look to read the intentions of the institutional traders and piggyback on their trades. When the market reacts as we expect at the important levels we trade what we see.

Watch and listen to how Anthony assesses price action during the first couple of hours of trading on the DAX.

Learn how to read charts, candlesticks and trade opening ranges on the FTSE, DAX and Forex markets – https://excellenceassured.com/trading-training-courses

Comments

Moustafa Elwahiby says:

Do you mostly trade what time frame sir when it come to dax?

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