This is a trade idea for the German Dax market. Price this morning has reacted off yesterday's high thus confirming the double top reversal.
My trade idea is now enter a position long on a breakout of this pattern with my entry price above the pivot level as marked on the chart.
I'm looking for a clear breakout of this level and a strong push up back into the trading range of the previous week to scale out. The longer term view is to then hold a small position for the gap fill higher up.
Trade active
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After a few days of waiting this trade is now live as of 06/08 08:35 GMT
Trade closed: stop reached
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Unfortunately this one didn't work out. Hindsight is a wonderful thing but there was a very strong reversal off the 12800 level.