Saxo Group Videos

O'Hare: Back the Dax

Steve O'Hare is looking at trading the Dax. He notes that: "Last week’s positive price action in Dax resulted in the continuation of a correction higher from the 8,900 low.

A gap higher open on Monday indicates this move should continue and we look to target the next key level around 9,600.

This area boasts horizontal and Fibonacci retracement resistance levels and offers an ideal target level for current longs.

With this in mind we look to set longs on a pull-back lower, for improved risk/reward.

Once First target is reached, we will move stop to entry and look for 2nd target on balance of position."

Buy: 9430

Stop: A break below 9370

Target: 9600 & 9700

https://www.tradingfloor.com/about/niird

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01:07 minutes
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