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DAX Index 16th Aug – completed 100 points

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Price found some base at 12140/100 lows after strong Wednesday 15th sell off.

Right now approaching down trend line which can push Index back to lows or beyond or breach that trend can extend rebound to next important resistances 316/350 and 630

Would like long side here as have more gains potential but lets be patient and wait for test of trend line and price action there and nearest resistances 220/50 280

Entry on confirmation as trend line is still valid or not.

Targets for Long – 12316/350 with option fro extend rally towards 12630

Targets for Shorts 12190/140 with option for next leg down up to 12k mark.

UPDATE 17th Aug

Price reacted to trend line and reach target @ 12140 marked by red arrow in signal.

1 Comment

  1. Tecet

    Started this trade from buyers side following white signal, only managed to scalp around 60% of move but at least day end up in profit.

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