Today we review several excellent scalping opportunities on the DAX in the morning session.
We review 1.5 hours of trading action on the one minute timeframe and assess the trading opportunities presented during this time.
Master Trader, Anthony explains what to look out for in preparing for trading the open, the key support and resistance levels to be aware of and then talk us through the trades as they materialise.
In our scalp trades on this market we are looking for a 10 point reward with a risk of just less than that, this produces a positive traders equation and means that we can be confident over time of making a profit.
In the video below we discuss how to use support and resistance levels (yesterdays close, open and low, plus daily levels), the 8 and 20 EMA and price action to identify some high probability trades.
Today there are some excellent bull and bear traps that we look for in order to take advantage of double pressure in the markets.