Day trade
Trade view / 19 August 2016 at 6:01 GMT

SEP'16 Dax: Lower daily highs keep signals temporarily bearish

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

A daily shooting star at Monday’s fresh 2016 high of 10804.0 has kept SEP'16 Dax signals bearish in each of the last three days. While these have been confirmed with losses of almost 300 points from the top, Thursday’s trading saw sentiment trade inside the previous day’s range for just a modest down-day. However, with no sign yet that the pullback is ending, but with signals of it being potentially corrective and temporary, today's outlook remains negative.

Management and risk description

Lower the stop to entry if the first target is met.


Entry: Sell at market and 10660.0, Wednesday's open.

Stop: 10703.0, Wednesday's high.

Target: 10446.0, a 50% correction to August's gains, and 10396.5, last week's low trade.

Time horizon: Today only.

Dax charts
DAX Daily - rally stalls

DAX 4 hourly - pullback to gains

DAX Weekly - 7.5 month highs

DAX Monthly - key 50% pullback
 All charts CQG. Create your own charts with SaxoTrader. Click here to learn more 

— Edited by Susan McDonald

Non-independent investment research disclaimer applies. Read more
Steve Lucas Steve Lucas
take over 100 Pts profit and lower stop to entry


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