Day trade
Trade view / 16 June 2016 at 6:03 GMT

DAX downside to resume

partner and technical analyst / 3 c analysis
United Kingdom

Bearish signals on the week and for Tuesday have been confirmed, but with intraday sentiment oversold near April’s low and with Tuesday’s bounce forming a small Hammer, Wednesday’s signals pointed to a temporary profit-taking recovery. This is exactly what has occurred, investors buying the dip, but for initial gains of 100 points to be mostly given up. This is negative and signals for Thursday revert to bearish.

Management and risk description

Allow room to sell rally and lower stop to entry if the first target is met.


Entry: market and 9573.0, just in front of yesterday's close.

Stop: 9610.0.

Target: 9394.5, March's low and 9200.0.

Time horizon: today only.

DAX 4 hourly - recovery to losses
DAX Weekly - April's low

DAX Monthly - key 50% pullback
 Source: all charts CQG. Create your own charts with SaxoTrader; click here to learn more 

— Edited by Gayle Bryant

For more on equities click here

Non-independent investment research disclaimer applies. Read more
16 June
leo_100 leo_100
its trending on the support line... symmetrical triangle with bull engulfing.. going long based on the trend :)
16 June
leo_100 leo_100
sorry this was for a different trade


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