DAX Monthly Ascending Triangle Back Test; 6th June 2013

DAX Monthly Ascending Triangle Back Test; 6th June 2013

The DAX Monthly chart recently broke upwards from a multi Year Ascending triangle.

The break out level 0f approximately 8140 is just about  to be re-tested. If support is found the subsequent move could be very interesting. If the current pull back turns out to be a major top then one can only assume this break-out was a fake-out.

Unfortunately I’m not sure if I’m mad enough to attempt trading this, but if it were a 15 minute chart I’d probably give it a go.

A measured move target for such a trade would have you setting a limit order to close the position at approximately 14,150

DAX Monthly ascending triangle back test 5th June 2013

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  • This Week's Swing Trading Round-Up; 9th June 2013
    Posted at 23:24h, 09 June

    […] forward, whether you’re going to trade it or not, I love the DAX Monthly chart discussed earlier in the Week and even though I probably wont trade it, it will be interesting to […]