Saturday, 24 September 2016

Weekly Outlook of Dax & Dow for 26th to 30th September

Dax

Last week Dax spot went down 429 points from the previous weeks close of 10276.17 and finally ended the week with a gain of 351 points over last weeks close .

Had mentioned in the previous post that 'Now on closing or sustaining below 10239 we can see it test the next supports at 10100 - 9947 incase of further correction' . Dax did not test 10239 and went up to trigger again our weekly longs and completed all our targets and went up further by 100 points . Dax also closed above last target for the week of 10596 . Dax gave a move of more than 350 points from the long trigger

In the coming week Dax needs to break and sustain above 10732 to confirm uptrend and then one can expect a move till 10844 initially and breaking and sustaining above 10872 will give further confirmation for the next move which can take us till 11074. Similarly Dax needs to break and sustain below 10521 to confirm downtrend and then one can expect a move till 10410 initially and breaking and sustaining below 10382 will give further confirmation for the next move which can take us till 10180.

We can expect uptrend continuation in Dax above 10745 and downtrend below 10440 for this month.

Dax Levels for the week are

Long above 10692 , Tgt  10732 - 10765 - 10798

IF Dax manages to get a close / sustain above 10844 then ,

long again for 10872 - 10968 - 11074

Short below 10562 , Tgt 10521 - 10489 - 10456

IF Dax manages to get a close / sustain below 10410 then, 

short again for 10382 - 10286 - 10180



Dow

Last week Dow went down 31 points & then went up 326 points over last weeks close and finally ended the week with a gain of 138 points over last weeks close .


Had mentioned in the previous post that 'Now on sustaining below 18153 we can see it test the next supports at 18010 - 17938 incase of further correction' . DOW made a low 18093 and took and reversed by nearly 350 points . DOW triggered our weekly longs and competed our initial 3 targets giving a move of around 200 points from the long trigger


In the coming week Dow needs to break and sustain above 18397 to confirm uptrend and then one can expect a move till 18540 initially and breaking and sustaining above 18576 will give further confirmation of the next move which can take us till 18835 . Similarly Dow needs to break and sustain below 18126 to confirm downtrend and then one can expect a move till 17983 initially and breaking and sustaining below 17947 will give further confirmation of the next move which can take us down till 17688.


We can expect uptrend continuation in Dow above 18508 and downtrend below 18294 for this month.

Dow Levels for the week are

Long above 18345 , Tgt 18397 - 18439 - 18481

IF Dow manages to get a close / sustain above 18540 then 

long again for 18576 - 18700 - 18835

Short below 18178 , Tgt 18126 - 18084 - 18042

IF Dow manages to get a close / sustain below 17983 then 

short again for 17947 - 17823 - 17688


P.S. Always wait for the yellow highlighted levels to be crossed after taking a long/short position for confirmation of the trade . Once the highlighted levels are crossed and the next target is achieved move your Stoploss to the highlighted levels .

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.