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When I was scanning the charts I saw this nice topping tail on Lanxess (LXS) I am looking for a retrace tomorrow at 67.00€. The stop on this play will be a close above 68.46€.
On the downside my first target will be 65.00€ and 63.40€.
Can you help answer these questions from other members on NexusFi?
I don't do it for the money silly, just the warm fuzzy feeling I get helping my fellow members. Not 100% sure what it will do now. Hit major psych level and close to daily utl at 70 and line forming at 69.25. If it gets over 69.25 again then it should retest and likely break 70. Intraday support around 68.50. So, if I were long I would hold, if flat then I would not get long or short just yet. I would not be short, but if I had gotten short and was beat up good, then stop at 69.35, if not beat up too much then stop above 70 and hope for retest of 68.50 and take losses there. May get lucky with a fat breakdown at 68.50, but IMO that's a long shot. All thine who hath beith short, repeat after me "Dear Jesus..." These are the lines I would pay attention to,
Not 100% sure what it will do now. Hit major psych level and close to daily utl at 70 and line forming at 69.25. If it gets over 69.25 again then it should retest and likely break 70. Intraday support around 68.50. So, if I were long I would hold, if flat then I would not get long or short just yet. I would not be short, but if I had gotten short and was beat up good, then stop at 69.35, if not beat up too much then stop above 70 and hope for retest of 68.50 and take losses there. May get lucky with a fat breakdown at 68.50, but IMO that's a long shot. All thine who hath beith short, repeat after me "Dear Jesus..." These are the lines I would pay attention to,