In this case I give you a very precise example of how I look at the markets.
Expecting retest of the lows before hitting the stops.
Have a great week of trading!
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FX:GER30
Short the dax when it reaches the 10250 Highs, profiting on the back on the support level when it drops down again. Only a matter of time when it corrects itself. The stochastic shows alot of choppiness so this bullish wave will come to an end soon.
Markets in USA are very high (generally all time high). Market usually does not go straight up. I guess a small correction is the matter of time. If there are no bad information, I advice to re-enter long position as shown in the graph.
Enter the market around 9900.
Sentiment: Bullish inside red channel. ( Bullish )
Trend Strength: Moderate
Seems like DAX1.43% could try to touch R1. (see red arrow)
Close above R1 would confirm rise towards R2.
If stays below DAX1.43% will resume correction towards Monthly S1.
Sooner or later DAX1.43% will reach red channel support.
Maybe it will be good long-term buying opportunity.
Rise in FTSE has helped German DAX move back above weekly 200-MA level today.
We could head higher to falling trend line resistance If the current week candle closes above weekly 200-MA and is followed by another closing above weekly 200-MA. Moreover,a rebound from the weekly 200-MA could translate into a rally to 10,846 (point D = potential reversal zone).
On...
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