Trade of the week: long DAX 40
Since the past couple of weeks’ correction may have ended at Friday’s low, we would like to go long the DAX 40 index, with a stop loss below last week’s low, and an upside target around the 18,500 mark.
(AI Video Summary)
This week's trading opportunity
This week's focus is on a trade involving the DAX 40 index. Despite a prior loss from going long after a bullish hammer formation, the outlook remains cautiously optimistic, pegged on stabilising conditions in the Middle East. A new trade suggestion is to buy the DAX 40 again, setting a stop loss beneath the past five days' lowest price, aiming for a target around 18,500. Key insights include the importance of confirming buy signals post-hammer formation to avoid premature trades that could end in losses.
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