IvanLabrie
Long

Dax: Weekly update

FX:GER30   DAX Index
471 13 17
This is an update to my last Dax             long setup.
The daily chart range expansion trade got stopped, but since the time at mode setup is a weekly one, we can also attemp to go long using this entry instead.

I'm long already and keeping my stops at 11314.
The mode currently sits at 11401, with the current lows staying clear of this level.
If we manage to stay above this price during this week, then this will confirm the weekly setup I posted before.

You can enter longs in the following manner:
  • Buy limit @ 11493 with a stop at 11314 and a partial profit target at 11671 (I won't close partially there though, but it'd be safer if entering now, making the rest of the trayectory risk free).
  • Buy stop @ 11805, 1 pt above the highest high in the last swing, same stop loss at 11314.

I added Tim West's earnings season key level, based on the US earnings season's date range. These levels prove to be very effective at highlighting interesting support and resistance in stocks, fundamentally derived technical indicators. The purple lines on chart are said levels, The one above has already stopped the advance once, but hopefully it won't this time. The last level that corresponds to the ongoing period isn't confirmed yet but it's good to keep track of its progress too.

Good luck, if you happened to miss the entry on my last chart, now might be a good time to place the orders and wait.
Cheers,
Ivan.
ok, a fail,
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Dax should rally from here as EURUSD falls.
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Monitoring, if EURUSD works as planned, we can go long with at a discount tomorrow or on Friday.
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I closed the long and booked 1%.
Watching now.
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Reentering here, 1/2 position.
+1 Reply
IvanLabrie IvanLabrie
Two orders, 10930 entry, stop at 10800 (253 ema) and 10652 (weekly low)
+1 Reply
Long invalidated for now, booked profits from the short.
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Stopped, and reversed with a short, stop at 11611, target is 11000.
Interesting discussion going on at the Key Hidden Levels chatroom.
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IvanLabrie IvanLabrie
(If we go under 11314, it might correct some more before reversing, let's watch it closely)
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