olly_price

Potential DAX trade for tomorrow

FX:GER30   DAX index of German listed shares
Approaching the apex of the symmetrical triangle drawn here. I am hoping for a break out to the downside at point 7. I would then expect a pullback at previous structure, and then have a main profit target at strong levels of previous structure.

The upward break at point 6 is also potential for a small trade.
Trade active
Trade closed: target reached: Target met weheeey
awesome. hope you made some serious bucks
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olly_price NepaliHercules
Thanks my man, follow my page for more trade ideas!
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olly_price olly_price
According to my strategy, I could have either placed this profit target at the one I drew on the graph or at 9250, will be interesting to see if the price goes farther below, or rebounds off this 9250 up to the middle green line at 9586
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hi!! In your opinion (i'm new in trading and you seem very good) when will we can plan the new dax's trand. I bought long dax two weeks ago, and now i don't know if it is better sell them or continues to wait. excuse me for bad english.
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olly_price GiacomoBarzagli
Hi Giacomo, thank you very much, I appreciate your support! I personally can't find any technicals on the DAX right now that fit my strategy. However, if you look at the DAX over the past months, it tends to rise on speculation that the ECB (Mario Draghi) will boost stimulus to get the inflation target of 2%. On 2nd October, Draghi said they "will do whatever it takes" and the DAX rose very much. It then dropped after traders thought that the ECB would not put more money into the system. The DAX then rose after the 22nd January when Draghi said there are "no limits" to what the ECB will do to reach the inflation target. Draghi has said that stimulus will be boosted and I think that the DAX is likely to rise quite strongly over the next month or so, especially based on the very solid economic data that Germany keep getting. However, I think that long term positions in stock indices are risky at the moment - there are a number of things happening at the minute that affect the global markets, such as China and oil, so stock indices are susceptible to quite a lot of volatility at the moment.

You should never trade without a strategy! So since you are new to trading I think you should spend some time developing a trading strategy with a demo account so that you know exactly what to look for when placing a trade in the future.
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thank you very much!
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