DE40 – Buy the Dip as Bottom Formation Emerges

Trade Idea

• Type: Buy Limit
  
• Entry: 23,600
  
• Target: 23,900
  
• Stop Loss: 23,450
  

Duration: Intraday
Expires: 03/07/2025 06:00

Technical Overview

• Recent price action suggests a bottom is forming, setting the stage for a potential upward move.
  
• Further upside is expected, but current levels offer a poor risk/reward for immediate buying — instead, waiting for a dip to 23,600 is preferred.
  
• A confirmed move above 23,750 would signal renewed bullish momentum, aligning with a measured move target around 24,000.
  

Traders should be mindful of ECB President Lagarde’s speech at 15:15 UTC, which may influence overall risk sentiment and European indices.

Key Technical Levels

• Support: 23,700 / 23,600 / 23,500
  
• Resistance: 23,800 / 23,900 / 24,000
  

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