Support & Resistance Play
VW creates higher heights & higher lows since may (blue trendline)
During that time it created a couple of support & resistance areas.
Entered the trade yesterday when it broke the resistance @ about 135.4 which becomes support - and will probably be retested today.
Entry: 136
TP I: 141.5
TP II: 145.5
TP III: 148.9
SL: 132.7
Further notice:
MACD indicates that the latest sell off weakens, MA 50 might cross MA 200 soon.
Tight SL since I'm not completly confident with this trade. MA 50 and MA 200 are still neutral/decending.
During that time it created a couple of support & resistance areas.
Entered the trade yesterday when it broke the resistance @ about 135.4 which becomes support - and will probably be retested today.
Entry: 136
TP I: 141.5
TP II: 145.5
TP III: 148.9
SL: 132.7
Further notice:
MACD indicates that the latest sell off weakens, MA 50 might cross MA 200 soon.
Tight SL since I'm not completly confident with this trade. MA 50 and MA 200 are still neutral/decending.
Note
As predicted it tested 135.4 again and proofed that it became support. But what a afternoon move, 3,5 up in 1,5h and broke right through the MA50. Now I'm much more confident about that trade.Note
Too much profit taking at the end of the day, closed below MA 50. Still confident.Trade fermée: ordre d’arrêt atteint
bloody dax market, SL hit
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.