Dax is in decisive moment right now as it is testing the upper band of the rising channel and 61.8% Fibonacci retracement level at the same time. If the price crosses the current level to the up, we will watch previous top at 13 120 as a next target. In long-term, the upper band of the bigger formation in the vicinity of 13 600 will be the aim. If the price bounces against the upper band of the smaller formation, we should consider first the lower band of small formation at 12 520 and then the lower band of the bigger one at 12 270.
Thanks for the review. In a 10-day forecast, how much will it be? I'm in a long position losing every day ... you know how it is ... a newbie who does not want to take losses ... 12245 is it a mirage?
LimitMarkets
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@vascom, Considering last days’ movement, we might expect the price to stay on its track, inside of the small rising channel (the blue one), bouncing between the bands of the formation. We should focus on 12 520 and 13 120 levels (Fibonacci retracement levels are also important here). In the next 10 days, the price should be still trading between these levels, unless there are some serious fundamental factors. We hope this answers your question. Best wishes and good luck! LimitFX team
vascom
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@LimitFX, Thank you very much. Position closed. Raise the margin for more trades ...