phaneroboy
Long

Dax - long position add on

FX:GER30   DAX index of German listed shares
I opened another long position here at FE100%
SL is placed at 8530.
excellent analysis here and on SPY down at .618 near 182. Do you anticipate as I do a reversal on SPX at 50 SMA ...it has retraced the down trend break with overshoot...? Your opinion appreciated.
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phaneroboy stockSMASH
Hi stockSMASH, thanks for your comment, i will not play the short side here, i see that the 50sma is there and probably we will have a retracement. i am more bullish on sp500 than dax30 atm, due to the fact that sp500 already broke the 50% and 61% of the entire down move. so my strategy is not to be a seller here but to add on dips against the 1820 low on sp500 and to hold my dax long position. If this up move wiil turn out to be a B move in a larger ABC i will buy the 100FE again. your view and comments are very appreciated. thanks
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trandom phaneroboy
hi phaneroboy, could you share where is your SL for LONG positions and when do you plan to buy more LONGs? Now i am outside the market, sold all my LONGs because i see some risk for downside move. What is your view on DAX situation?
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phaneroboy trandom
Hi Trandom, i will be out of office all day, so i will post charts tomorrow. My SL on dax are set at 8560 area (i already took and locked good profits). Next buy area for me is the 50% retracement (8725 area) or the 100%FE but i need to see how the corerction will develop to have a level. I am shifting my long attention to sp500 that in my opinion is more bullish than the dax right now (broken 50 and 61.8 shorts lines).
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This trade is closed with a profit of 441 points
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olmodelcaz phaneroboy
Congratulations!
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phaneroboy olmodelcaz
Thank you olmodelcaz
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First target hit. Dax heading north as expected. i will hold until 9000 area with this add on
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trandom phaneroboy
congratulate nice trade today, thank you!
please keep me updated with your decisions
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phaneroboy trandom
Thanks trandom! i moved my add on SL to 8725 to lock more profit.
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