SEP16 DAX: Reversal targets 'open windows'
There were bearish signals for Dax sentiment on Tuesday, bullish signals for Wednesday and a switch back to bearish again on Thursday. All have initially been confirmed with moves of over 100 points.
However, each of those moves have been reversed, leaving futures only marginally lower on the week overall. Yesterday’s rally is positive, but until the window since last week’s close is shut, signals for triple witching Friday on the new September contract are pointing higher.
Management and risk description
Buy the dip and raise the stop to the entry point if the first target is met.
Entry: Market and 9610.0.
Stop: 9565.0, Thursday's Marabuzo line.
Target: 9742.0, this week's high and 9793.5, the window which has remained open since last week's close.
Time horizon: Today only.
— Edited by Adam Courtenay
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