Time management gets trickier every day, I need to start employing people soon to get these reports out!
So I am a happy camper at the minute as we have broken up above the 10200 and seem fairly comfortable for now. We still sit inside the bullish trend channel drawn on the 5 minute chart and I will trail my stop losses to follow the channel. There has been a bit stalemate between buyers and seller and the bullish breakout yesterday held on the first test earlier on today. The Friday low is the trend defining level. Be aware of the 10300 providing stubborn resistance.
ECB will be dominating sentiment with their interest rate decision (due out any second now – as I am typing) and later with the meeting where Draghi outlines his monetary policy stance. So I am pleased that my trades are now risk free with stop losses in the money. I am looking for another test of 10200 and ultimately a break above the 10300 to consider a final addition to the trade.
There are a lot of people talking about the Dax at the moment and many traders seem to be making the move over for obvious reasons. I think it’s a market that can provide some great opportunity.
Dax Support & Resistance
|200 Day SMA||10617|