DAX 30 on the M5 time frame
My 8 Points
1. the high of the day
2. the low of the day
3. the test of the low of the day at the Open
4. the first peak that break (1) and also poke out of the “2XATR” volatility band, i.e. the KC Upper band(doesn’t really matter, what matters is PRICE)
5. 2 candle pull-back retest of (1). Make entry
6. Exit our of successful long trade.
7. Another pullback, make entry above seed
8. Exit out of profitable trade.
So have I answered the Question? Is it possible to trade a market like that? Is it possible to trade range bound markets and still make money? Absolutely yes and there are other ways of trading the ranges like I have shown above. You can trade inside ranges or you can trade outside the ranges when it breaks out.
DAX on the M1 Chart: Lobot Strategy
Point 1: First 1 minute candle broke below the lows but retested the overnight lows and reversed
Point 2: price then reversed and created a new high above the open line
Point 3: First 2 candle pullback towards the open line so I went long
Point 4: Exit out of some profits here (even if you exited full would be ok)
Point 5: another nice pullback/pause (added some more here , not displayed on chart)
Point 6: Exited most positions here if Point 5 was your first entry this would be your trailing stop exit or target hit
Point 7: another pullback but now the chart is extended. Exited out of all positions.
Point 8: This is a deeper pullback but still a pullback. Long here was good but I missed it.