Dax Trade - Long Idea - Double Bottom, and W formation

Jul 20, 2017

DAX created a double bottom the last days and also created a W Chart formation, which is shown in the chart. The formation made a retracement to 78% which is pretty much and should give the power to reach the area of 12680 and maybe 12800.
Trade can be entered at 12500 with tartet 12680 and stop 12380.

Jul 20, 2017

Trade active

Trade is active with target 12680

Jul 20, 2017

Note

for Short time Dax was up to 12570 and then is falling to 12400 in a very short period of time.
Now the risk reward ratio of course is much better.
But of course Dax can be on it´s way to Gap-Close also.

Jul 24, 2017

Note

This trade was a fail indeed.