Opening range reversal trade on the DAX 1 minute chart

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This is one of my favourite plays – an opening range reversal.

The DAX and other indices often produce a number of reversals around the levels of the premarket highs and lows. This establishes an opening range.

I always begin the trading day by plotting a number of horizontal levels on my charts, the pre-market high and low, and the high, low, open and close of the previous day. These levels provide me with context for my trades.

Today’s trade was a reversal down from the pre-market high. It set up perfectly – it broke a trendline, it produced a higher high followed by a lower high and then it set up a trap for ambitious bulls.

I talk you through the price action, dissecting the candlesticks and I explain how I use Context, content and confluence for good trade entries.

Each day I aim to make two or three good reward to risk trades, and that is how I build my account – the rest of the time I am coaching and training other traders.

If you are interested in learning a structured way to trade then please do get in touch. I’d love to share my knowledge and skills with you.

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