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!
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!