DAX (still in a negative territory)

[genti]

Hello.

please if any Dax trader around , what are your thought about next week.

thank you.


A LOSS IS A SUCCESS IF OU FOLLOWED YOUR TRADING SYSTEM

 

[rglenn]

Hi Genti

I trade the Dax regularly.

I must say that it has had a very bad run compared to the other indexes.

It is well below par.

This week though I see it going up by between 70 to 90pts.

This is of course also between the inevitable dips.

The Dax is better traded on the short side until the markets are more stable.

 

[genti]

re:dax

Hi Robert.

it looked promising today for the Dax when the IFO no's come out , but it didn't take long to rip off the gains.

for tomorrow i will be surprise if it reaches 2880, what about you?
(however a close above 2925 will be very promising)

cheers
Genti

 

[rglenn]

Hi Genti

Don't forget that the dax is always sluggish.

It takes a while to get going- when it does though there is not much to stop it.

The dax tends to follow the other markets so watch what happens with the Ftse tomorrow and you will know where the dax is going.

In the afternoon it will follow the Dow.

The dax is always alot more cautious than the other markets.

It will only move strongly it the trend for the other markets are strong especially the dow.

I don't trade the dax in the afternoon though unless I get caught on the wrong side of a trade.

 

[BarNov]

Did the DAX show a flag set-up during May???

During April the DAX went from c2450 to c3050ish... a rise of 600.. and then downwards to about 2825.. it is this down slope that I question. Was this a flag i.e. continuation pattern.

If it was... then are we then not looking at a rise to about 3425ish

i.e. 3050 - 2450 = 600
2825 + 600 = 3425

If you think the uptrend started back in March at say 2250 ... then we would be looking at target of 3625ish.

Does any one believe this was a flag set-up.. or am I simply trying to see something that isn't there.

 

[Skimbleshanks]

Any chance that you can post a chart so that we can all see what you're referring to?

 

[TBS]

Not so much a flag - as they tend to be associated with violent price action, well away from the trend. But certainly a retracement back to retest the neckline of the double bottom, target c 3250 although a case can also be made for 3180.