Damantis
Long

Dax Trade - Long Idea - Double Bottom, and W formation

TVC:DEU30   DAX Index
DAX             created a double bottom the last days and also created a W Chart formation, which is shown in the chart. The formation made a retracement to 78% which is pretty much and should give the power to reach the area of 12680 and maybe 12800.
Trade can be entered at 12500 with tartet 12680 and stop 12380.
Trade active: Trade is active with target 12680
Comment: for Short time Dax was up to 12570 and then is falling to 12400 in a very short period of time.
Now the risk reward ratio of course is much better.
But of course Dax can be on it´s way to Gap-Close also.
Comment: This trade was a fail indeed.
I am Long @ 12417 Target 12639 SL 12348
Reply
@tanSL,
Hope you had a tight SL and had not too much loss.
Reply
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