Another BINGO! On saturday I wrote about why I was bullish on the DAX over the weekend. I opened a long position on friday at 12000 level. This morning I bought more, when I saw the up gap.
The 200 DMA was perfectly hit, this was an easy long trade. Watch it again here:
https://steemit.com/blog/@ew-and-patterns/dax-update-12-08-2017
This 200 dma was touched the last time on 09.11.2016, so this was a very easy trade. This reaction was expected...
This is how I traded it:
I closed half of the position already at 12178, because I saw 5 waves up, expecting a correction soon. The rest of the long positions have a SL at 12164, the low of the current 1 Hour candle. I will probably be stopped out soon, but there is still a minimal chance for a bigger upmove.
I am very happy with this trade. Easy and repeatable strategy.
If you think this to be useful information:
DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way i see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post.
If you make any trades after reading this post it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Tell me what you think...
Have a nice day :-)