UPDATE DAX Target hit 16,333 still heading up
DAX formed two powerful patterns.
The bigger one was a Falling Wedge & the smaller one was a Reverse Cup & Handle (Which I believed I made up, in case you go Google and not find it :P)
The price broke up and headed straight to the top of the wedge which is a decent target for the pattern.
7 >21 >200
Target hit at 16,333
Now this trade was a tough one because even though it hit the target, we held on FAR too long. The daily costs do add up as well as the opportunity cost of holding. even though profits were realised, these are the kinds of things we think about as traders.
ABOUT THE DAX
The DAX, or Deutscher Aktien Index, is a key stock market index in Germany
Foundation: The DAX was launched on December 30, 1987, by the Frankfurt Stock Exchange.
Composition: The DAX tracks the performance of 30 of the largest and most liquid companies on the Frankfurt Stock Exchange.
Selection Criteria: Companies included in the DAX are selected based on market capitalization, book value, and their importance to the German economy.
The bigger one was a Falling Wedge & the smaller one was a Reverse Cup & Handle (Which I believed I made up, in case you go Google and not find it :P)
The price broke up and headed straight to the top of the wedge which is a decent target for the pattern.
7 >21 >200
Target hit at 16,333
Now this trade was a tough one because even though it hit the target, we held on FAR too long. The daily costs do add up as well as the opportunity cost of holding. even though profits were realised, these are the kinds of things we think about as traders.
ABOUT THE DAX
The DAX, or Deutscher Aktien Index, is a key stock market index in Germany
Foundation: The DAX was launched on December 30, 1987, by the Frankfurt Stock Exchange.
Composition: The DAX tracks the performance of 30 of the largest and most liquid companies on the Frankfurt Stock Exchange.
Selection Criteria: Companies included in the DAX are selected based on market capitalization, book value, and their importance to the German economy.
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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