Monday, December 5, 2016

DAX - 05/12/2016

Update: 06/12/2016, 13:00
Closed my long @ 10707.

Update: 23:55

Closed second long at 10701.

Update: 17:20
The size of the correction on the 30 minutes time frame looks OK to me. My ideal target for this smaller degree wave up is 10780, but I think 10830 is a reachable target even is the range on the 1 hour chart is still intact.
DAX30 (CFD) - 30 minutes chart

Update: 16:00
Set my SL higher @ 10725

The market reached my target zone last Friday and started to rally this morning. The price eached the top of the smaller range very quickly (just like after the US election). Today's daily candle could be crucial to determine the context of this range.

DAX30 (CFD) - 1 hour chart
If the price action will break out of this smaller range, higher zones could be targeted such as 11200's. But this range is still intact, evidence is yet need on the chart to confirm my bullish context mentioned in my previous post. We'll see


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