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German Dax – Key RRL Holds, Rejects & Profits (4hr chart)
On Tuesday in the members trade setup commentary, we talked about looking to sell the German Dax on any rallies into the key structure lows around 9785 which formed on Sept 21st (blue box lows). As you can see from the chart below, this RRL (role reversal level) was tagged perfectly, then sold off heavily.
Had you been waiting for a pin bar 50% retrace tweak entry, you either would have a) missed this trade entirely or b) at best gotten a much worse entry. This is why we DO NOT wait for confirmation price action signals or candlestick patterns as it reduces our profitability and edge.…... Keep reading