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Day trade
Trade view / 11 August 2016 at 5:59 GMT

Pullback signalled for Dax

partner and technical analyst / 3 c analysis
United Kingdom
Instrument: GER30.I
Price target:
Market price:
Background

Bullish signals on the week have been confirmed, but with topside momentum slowing with futures trading close to the window, which has remained open since last year’s close at 10729.0, Wednesday’s signals were more cautious. These too were confirmed as investors booked profits with sentiment weakening over the day. The loss of topside momentum has weakened signals and left a temporarily bearish bias.

Management and risk description

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

Parameters

Entry: sell at market and at 10690.0.

Stop: 10,729.0, the window which has remained open since last year's close.

Target: 10,553.0, Tuesday's Marabuzo line and 10,401.0, a 50% pullback to this month's gains.

Time horizon: today only.


 
DAX 4 hourly - pullback to gains
 
DAX Weekly - Testing 2015 Close
 
DAX Quarterly - lower highs
 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
11 August
niktzo niktzo
Good morning Steve.The numbers you are referring are for CFD or Futures?
11 August
Steve Lucas Steve Lucas
Hi niktzo - these are sep'16 futures....so you need to adjust for cfd.
11 August
niktzo niktzo
OK thank you.
11 August
Michael Liu Michael Liu
Hi Steve, did this position stop out?
11 August
Steve Lucas Steve Lucas
yes
11 August
cwjrobinson cwjrobinson
Dax is pulling out all the bulls this morning. how far can it go is the question. no real fear in the market at the min
11 August
Cap21 Cap21
gm steve sir
11 August
Cap21 Cap21
i sold dax but did not put stoploss
11 August
Cap21 Cap21
dax high today 10745
11 August
cwjrobinson cwjrobinson
thats the gap closed from the start of the year
11 August
Cap21 Cap21
15 m chart now big red candle
shooting star
11 August
Steve Lucas Steve Lucas
filled 2015 gap at 10729.0....may come off now.....
11 August
Steve Lucas Steve Lucas
this was short-term play with the gap which failed...my weekly view has been bullish and the long-term view is the same.....
11 August
cwjrobinson cwjrobinson
we broke the 2015 down trend line last week. whats your thoughts on a new up trend starting. CB's cutting rate all around the world. cheep money. recipe for disaster?
11 August
Steve Lucas Steve Lucas
of course it's a recipe for disaster... a new financial crisis is only a matter of time....but that could be years from now...but it will be sovereign risk next time...in the meantime equities will remain bid as only source of return apart from hard assets....which is why metals should remain bid too when inflation kicks in...which it will, but again that will be time....
11 August
DudetteUK DudetteUK
the market is really painful, look at that now, we dropped 40 points in 10 minutes!
11 August
Steve Lucas Steve Lucas
august market...horrible most years but opportunities too... I was a bit unlucky with this one, but damage was light so we fight another day !!
11 August
cwjrobinson cwjrobinson
Hi Steve. i am in long again around 10666. bought a dip. i can see the market has made a triangle from today movement. do you see much upside if we breakout ? Dax seem to be lagging the rest of the worlds indices. its a far call, but could this reach 11.400???
11 August
Steve Lucas Steve Lucas
Hi - not sure what time frame you're looking at ......

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