Piphunter1887

Long opportunity found on DAX Daily Chart

Long
XETR:DAX   DAX Index
Hi All,

This idea is based on the daily chart therefore the holding period will be longer than a day trade. Only the markets can decide where it goes, however I have based a long side rationale for the DAX based on the following:


1) Long term up trend (Weekly chart)
2) Short term up trend (Black line drawn) hourly chart
3) Price has respected 50 EMA (Amber line) in the recent few weeks

As this is on the daily chart the stop will be wide and the position sizing will be small. Aiming to hold for a minimum of 2 days and decide TP1 levels depending on the directional move.


Keeping it simple! Happy Hunting Gang!

Comments

Should be pushing up very soon! Looking forward to seeing how this plays out
+3 Reply
Piphunter1887 Wicktator
@Wicktator, hope so too! That is all us traders have, hope with conviction :-)
+3 Reply
Wicktator Piphunter1887
@Piphunter1887, haha hope with conviction! I like that 😂
+2 Reply
Really like the look of this
+1 Reply
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