Tuesday, August 20, 2013

2013/8/20 DAX weekly chart & setup with potential entry / targets for weekly option trade


DAX weekly chart and potential weekly option trade setup: 

After a dynamic move downwards to the 100% extension level 8250 on Tuesday morning, a corrective retracement back to 8330 seems likely, with a test of this level and the upper channel limit. This could develop into a nice entry point, for a move down from 8330 to 8210 (127% Fibo-extension) or even lower to 8155 (162% Fibo-extension) or the island-gap from 8130 to 8085. Take note that there will be important U.S. news on Wednesday and Thursday that will likely move the markets.

Have a  successful trading week, Tom

No comments:

Post a Comment