Monday 8 April 2013

Dax Close

Mostly sideways action. There is no confirmation of the break either up or down.
A nice bear flag (seen on the 4hr chart) has formed making me cautious to play the upside, as such have been selling the rips.
Trade scenarios for tomorrow are,
Triangle scenario. 4th wave triangle, E wave termination 7672 Targeting 7510 area, provided the price stays below 7696

 Zigzag scenario.  4th wave zigzag C possibly in progress, open gap up and push to 7745 0.38 or
7701 0.23 fib fade during the day.
Alt trade. Breakout above 7696 and a rally to the 0.50 fib 7780
Robot 1 trade entered short @ 7677 closed on SL 7680 $ 19.53 loss (rebooted PC )
Robot 2  trade entered short  @ 7672 -$ 14.31

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