Dax and many other stock indices are trading in strong uptrends. Pullbacks are shallow as investors enter at any short term dip, fueled by Quantitative Easing Europe edition. Under this type of trends, it be might be necessary to be less conservative and more aggressive in entry to be able to ride the trend.
Therefore, I am long targeting the most recent high at 13303 and 13535. A break below the blue shaded support area would stop me out of the trade with a small loss of 1% of capital.
sure, why not... on the other hand... what goes up must come down (I heard)
ReallyMe
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I'd say a little unlucky, or how do you see it?
Technician
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@ReallyMe, it provided many good longs within range before last whipsaw.
ReallyMe
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@Technician, Yes, but honestly, isn't that the case in almost 50% of cases, if you think that I've been observing it long enough now, has it always behaved that way so far, so will it do that next, on the pattern, then this next time it does exactly the opposite? :-)
Technician
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@ReallyMe, hahaha , this is the market, it just loves to make us go crazy :D