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IG's Trade of the Week


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CB is taking on the Dax this week, nothing if not brave calling a short with a stop above 12551 (or more conservative above 12740), so far looking good but also looks to have a far bit of support to work through before first target of 12070 on what looks to be an upward sloping chart though admittedly a very gentle incline.

 

Watch Dow for clues as to which way this is heading. The Dow also appears to be struggling today but it too has a far bit of support underneath, not least the 100ma, if Dow can take that on the 1 hour we may well be on for a retest of the trendline on the dax chart.

 

 

https://www.ig.com/uk/trade-of-the-week-ig?CHID=3&QPID=12896&tid=e17edb1dd7f47ddb1a2415d0bae37e3f

 

GER30(£)H1.pngUS30(£)H1.png

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  • 2 weeks later...

The Cohn news helped the trade to target but it was already well on it's way. Pity the IG staff having to call a trade every Monday morning (at circle A), looked better when attacking that resistance at B, after breaking resistance the obvious target was C.

 

Being more short term if I was in this trade the initial target was good (1341) and if there was a determined push through bar then stay in, but the level was recognised and price turned back so I would have been content to get out and look for a possible re-entry.

 

For a longer term trader the daily chart shows good potential for continued gains if the 1341 level breaks.

 

 

XAUUSD(£)H1.pngXAUUSD(£)Daily.png

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