📊 Q3 Earnings are here! Plan ahead with key data on upcoming stock reports - all in 1 placeSee list

DAX: Try Shorts With Stops Below 12600

Published 02/20/2018, 06:25 AM
Updated 07/09/2023, 06:31 AM
DE40
-

DAX Weekly Chart

DAX shorts anywhere near 12530/550 worked perfectly. Failure to beat 12540/550 is a sell signal targeting 12475/465 and first support at 12385/375. We bottomed 21 ticks below here yesterday but further losses are likely to better support at 12300/12290 for some profit taking on our shorts. This is the last line of defence for bulls but longs are risky. If you try, stop below 12240 and reverse back in to a short targeting 12215 and minor support at 12145/135. Below here targets 12070/060 and 12035 before the mega important support at 11900/11890. Remember we picked a low for the correction here last time?

Minor resistance at 12420/430. Gains are likely to be limited but if we get anywhere near 12530/550, try shorts with stops above 12600. An unexpected break higher is a short term buy signal so reverse back in to longs targeting 12640/650 and very strong resistance at resistance at 12730/750.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.