Short term
Trade view / 04 October 2016 at 11:46 GMT

Dax to head lower?

Technical Analyst / FuturesTechs
United Kingdom

The Dax had a really strong session on Friday despite the ongoing concerns about Deutsche Bank's future. We started on the front foot this morning and got to a high of 10,591 in the Dec '17 Futures. This was four ticks shy of filling the gap that was created on September 26 when we gapped lower. 

This says a short trade might be worth trying as the risk can be limited to 50-65 ticks while the potential reward is 240 points.


Entry: sell below 10,590 (currently trading at 10,555).

Stop: above 10,620.

Targets: 10,430, 10,320 and 10,200.

Time horizon: two days to one week.

Daily candlestick chart – mind the gap:
DAX Daily

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Weekly bar chart:
DAX Weekly
— Edited by Michael McKenna

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Non-independent investment research disclaimer applies. Read more
04 October
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
Well if you're going to get stopped on a trade a swift resolution at least puts you out of your misery! Back to the drawing board.... No regrets about this trade... Reward/risk was good...
04 October
fxtime fxtime
It looked a great trade imho.
04 October
martingrexa martingrexa
Call is good I guess. Just overshot on top. See in afternoon
04 October
martingrexa martingrexa
05 October
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
A sell around 10550-70 with a stop above yesterday's (10637.5) high is worth thinking about this morning. Maybe I just went a bit early...


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