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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...
Guest PandaFace

Cohn last night can’t have helped the equity markets so probably why this is working out so well.

 

Casey would you be selling some of the position? Average out a bit or hope that trumps going to continue be his usual self...

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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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