The DAX reaches all-time highs and closed at the highest level that we have ever seen. This may be new territory for the DAX, but it’s a common site across the Atlantic. Therefore we can not be surprised. We are very close to completing the move towards 13,000 and continuing the incredible bullish momentum. The trend is a trend until it isn’t.
We need to be aware that the current price action leading into the close of the session began to look heavy. So there is a real possibility of a reaction into the end of the week.
Extended bullish targets 13400 and pullback targets are 12500. For now the bullish trend continues, we intend to follow it until it breaks.
Yesterday in thr webinar we talked about two standpoints
- Be conservative, because the move has already happened and there’s no point in buying at the top.
- Be aggressive and find spots to continue to work with the trend until it isn’t there anymore.
I spent the majority of September being conservative, so it’s very easy to now want to be more aggressive. There are plenty of opportunities at the moment. In the webinar we pointed out a couple of those opportunities, so be sure to tune in for the webinar today. It will be around 9:30am UK time today and 8:30am on Friday.
|Value Area High (Futures)||12945|
|Value Area Low (Futures)||12892|
|14 Day ATR||77.52|
|*Please be aware that FXCM can often be 5-10 points higher than futures prices|
Dax All Time High
Come and join the broadcast channel to get more of these examples. This example worked out well, despite price action threatening to break lower after closing the gap opened up first thing in the morning
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