DBX broke out beautifully from a long term base on Friday. I traded it on the breakout Friday morning but closed the trade as I have not been holding much over the weekends. I will be looking to re-enter next week ,however as this has plenty of room to run longer term. If it pulls back right away I would take it off the green zone for a move back up the 618 fib. If price gaps up on Monday into the the 618 I will have to wait for a pull back from the 618 fib and some consolidation before entry.
Comment:
Making a move up to the 618.. Careful if you are not in this yet. Its likely to stall out at the 618. Best to wait for consolidation first then a break above the 618 for a long entry. Otherwise take it long on a pull back towards the green box. Good luck.
Comment:
Stalled out a bit so the play now if you are not already long would be to enter on a bounce out of the green area or wait for a break above the 618 or most recent high. Stops would depend on your time frame and risk tolerance. A break below previous week's low, ema cloud or pivot low could all work as a stop. Personally for a swing I would not want to see price drop below 24. Here's a pic of the daily.
Comment:
Still looks strong above green area. Very slow mover right now though.
Comment:
Watch this one above 28.50. It could quickly go to 34.