Dax: Weekly update

10 Ağu 2015

This is an update to my last Dax long setup.
The daily chart range expansion trade got stopped, but since the time at mode setup is a weekly one, we can also attemp to go long using this entry instead.

I'm long already and keeping my stops at 11314.
The mode currently sits at 11401, with the current lows staying clear of this level.
If we manage to stay above this price during this week, then this will confirm the weekly setup I posted before.

You can enter longs in the following manner:

• Buy limit @ 11493 with a stop at 11314 and a partial profit target at 11671 (I won't close partially there though, but it'd be safer if entering now, making the rest of the trayectory risk free).
  
• Buy stop @ 11805, 1 pt above the highest high in the last swing, same stop loss at 11314.
  

I added Tim West's earnings season key level, based on the US earnings season's date range. These levels prove to be very effective at highlighting interesting support and resistance in stocks, fundamentally derived technical indicators. The purple lines on chart are said levels, The one above has already stopped the advance once, but hopefully it won't this time. The last level that corresponds to the ongoing period isn't confirmed yet but it's good to keep track of its progress too.

Good luck, if you happened to miss the entry on my last chart, now might be a good time to place the orders and wait.
Cheers,
Ivan.