DAX30 Trendline Breakout And Short Opportunity Update: TP1 Reached
We have published our long term forecast of Dax Futures. We have a running short trade with midterm purposes. Slowing down the German economy adding weight on Dax futures.
Technically, the Index broke the short term bullish trend line. We enter a new short position here. Our setup is as follows:
Time Frame: H4
Trade Period: Intraday / Midterm
Estimated completion time: 2-26H4 Candlestick
The trend in the Timeframe: Neutral
The trend in the Daily Chart: Neutral
Trade Based On Trendline Breakout
The accuracy of the pattern: 93 %
Recommended Lot Size: 0.10 at 10K
Area of the Entry: 11.130
Stop Loss: 11.270
Target 1: 11.020 / Reached
Target 2: 10.900
Target 3: 10.500
Update: TP1 REACHED. We close 50% of the positions and move SL to entry.
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
DAX30: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility