Dax - long position add on

FX:GER30   DAX Index
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 has retraced the down trend break with overshoot...? Your opinion appreciated.
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
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?
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).
This trade is closed with a profit of 441 points
olmodelcaz phaneroboy
phaneroboy olmodelcaz
Thank you olmodelcaz
First target hit. Dax heading north as expected. i will hold until 9000 area with this add on
trandom phaneroboy
congratulate nice trade today, thank you!
please keep me updated with your decisions
phaneroboy trandom
Thanks trandom! i moved my add on SL to 8725 to lock more profit.
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