Publishing herewith my idea about DAX for current month
non stoppable rocket hit a trendline, also got rejection from weekly RSI 70, still above important support ,if ,broken bound to slips into the lower zone in day time frame
non stoppable rocket hit a trendline, also got rejection from weekly RSI 70, still above important support ,if ,broken bound to slips into the lower zone in day time frame
Comment:
there are many ranges, mostly price choose one set of range , i try to get the range though 2 different angles, 3rd is my extreme range of that time frame,1 extra range could be the intersection point above and below trend lines, if price form an IC or dozi those ranges also become important, other lines are important price point comes handy in day trade
Comment:
2 different shaded blue lines are major range for this time frame
mostly, if price opens above a range it got support of that line and try to reach the other end of range, but could get rejection from other lines also ,
similarly if price opens below a range line, that price line acts as resistance and price could try to reach the low of that range again got support from other price lines,
yellow lines are extreme price line of this time frame mostly comes into picture when a news impact the price
mostly, if price opens above a range it got support of that line and try to reach the other end of range, but could get rejection from other lines also ,
similarly if price opens below a range line, that price line acts as resistance and price could try to reach the low of that range again got support from other price lines,
yellow lines are extreme price line of this time frame mostly comes into picture when a news impact the price