#dax $dax

I just had a question over on Twitter and thought I'd clarify the chart mechanics. MyWave has been whittled down to the purple dotted line. When price is above a rising line and the RSi is holding blue on a retrace, I am looking to be long. If price is below a falling line and RSi is holding red on a retrace, I am looking to be short. I use the 24 pip range bar study for the trade-able trend, then using both the 12 pip and 6 pip range bars as derivatives/fractals of that 24 pip study. As Range Bar studies do not incorporate time, only the bar on completion of the range, the lesser pip range bar studies provide finer detail of the same larger picture without the distortion of time - try a 1min chart overnight vs a 6 pip range bar study!! Generally, I am looking for the 24 pip and 12 pip range bar MyWaves to be pointing in the same direction with price on the same side of both; trying to unpick 'a-b-c' waves formations by keeping an eye on the 50%-61.8% retracements (a's) and 100-123.6% extensions (c's) (162% or more on impulses as opposed to correctives). The blue lines join the two last humps in either direction created by MyWave for each time frame - they provide future S&R when price gets back to them. Hope this helps.