Thursday, 28 January 2010

DAX index illustrates the classic gap and trap phenomenon

The 15 minute chart for today's DAX shows just how easy it is to get stranded when piling into a strong opening gap. Too many intraday punters were anxious to get on board and ride with the feel good factor this morning in European trading. President Obama took a rest from bank bashing in his state of the union speech last night, Asian equities rose overnight and there were plenty of positive vibes about Apple's iPad.

An obvious no-brainer!

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