Day trade
Trade view / 22 September 2016 at 7:01 GMT

Dax – higher daily lows highlights the demand to buy dips

partner and technical analyst / 3 c analysis
United Kingdom
Background

A trend of higher daily lows which have been forming since last week's base is highlighting the demand to buy dips. This week's rally has taken prices above their 50-day average rate and signals continue to point to this improvement persisting as momentum indicators are also positive.

Management and risk description

Big ranges, so allocate modest capital - allow room to buy dip and raise stop to entry if the first target is met.

Parameters

Entry: Buy at market and at 10,459.0, Tuesday's high

Stop: 10,386.5, Tuesday's close

Target: 10,663.0, the September 8 close and 10,770.0, this month's top

Time horizon: today only


Source: CQG 

DAX 4 hourly - 6 week lows
Source: CQG  

DAX Weekly - 8 month highs
 Source: CQG 

DAX Quarterly - lower highs ending
Source: CQG  

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
22 September
trading4fun trading4fun
a good one, steve
22 September
Steve Lucas Steve Lucas
tks - equity trades very good this week, fx signals not so clear but tks
22 September
trading4fun trading4fun
us buying yeaserday into the bell in 99.9% means buy open europe the next day
22 September
Steve Lucas Steve Lucas
Sentiment continues to improve and although there is no sign that this is ending, we would take some profit and raise the stop to the entry point.
22 September
BertHH BertHH
very good trade!! Tks and a good evening, Steve
22 September
Steve Lucas Steve Lucas
You too Bert cheers

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