RiccardoAnnoni
Long

DAX will rise

INDEX:DAX   DAX Stock Index
31 0 1
Dear traders,
in the last 2 weeks DAX30             has lost about 1000 points.
Yesterday 1st MAY there was no action but we have to consider that EUR lost some of its recent strenght and that should boost the DAX             .

My fundamental point sees a DAX             as a buy only market and I treat pullbacks as an opportunity to re-enter the market with a long term long position.

I would change my mind should the DAX             pierce the support band that stretches trough 11000 and 10600.

Right now I am ready to buy a daily closes above 11600, closing half position at 12000 and stop loss at a daily close below 11400. This a 2:1 profit/ratio trade and a high probability one as I firmly believe that sooner or later buyer will come back in mass.

Cheers
R
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