Day trade
Trade view / 22 June 2016 at 5:41 GMT

Signals positive for the Dax, but investors wary of UK vote outcome

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

Although the rally since Thursday’s 9421.0 low may be corrective, a sequence of higher daily lows kept Tuesday’s signals positive and pointing to buying the dip. Although the pullback did occur, it was shallow, sentiment recovering to post a third higher daily low & high in a row and a close above the psychological 10,000.0.

Signals remain cautious ahead of the Brexit vote, but the trend of higher daily lows keep them pointing higher.

Management and risk description

Allow room to buy the dip and raise stop to entry if the first target is met.


Entry: market and 10010.0.

Stop: 9968.0, Tuesday's open.

Target: 10216.0, the June 8 close and 10300.0, June's high.

Time horizon: Today only.

DAX 4 hourly - pullback to gains
DAX Weekly - March's low
DAX Monthly - key 50% pullback
Charts: CQG. Create your own charts with SaxoTrader; click here to learn more.  

— Edited by Robert Ryan

Non-independent investment research disclaimer applies. Read more
trading4fun trading4fun
fantastic call steve, despite it took 2 days instead of intraday
Steve Lucas Steve Lucas
yes - tks sir


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