Dax has recently broken out of a rising wedge which has been forming over the past months, it has managed to recover and is close to the lower part of the channel, currently in what seems to be a bullish pennant/flag in the 5m TF, which could send DAX to 12,060 before it begins to drop.
Entry: 12,060
SL: 12,123
TP: 11,780
---------
RRR: 5.18
Trade with care.
Entry: 12,060
SL: 12,123
TP: 11,780
---------
RRR: 5.18
Trade with care.
Trade active
Comment:
Nice 130 point drop from the short entry point. Expecting a retrace upwards to a maximum of 12,040 (approx. 12,043) before the price continues to decline closser to the final target, of course we could face support at the lower 800's and will deal with them accordingly when they appear.
Nice 130 point drop from the short entry point. Expecting a retrace upwards to a maximum of 12,040 (approx. 12,043) before the price continues to decline closser to the final target, of course we could face support at the lower 800's and will deal with them accordingly when they appear.
Comment:
we got our retracement
we got our retracement
Trade closed manually
Currently in consolidation with bullish bias, which could send DAX to entry price of 12,060.