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(J) Trade 7: Speculating on Trend Resumption #IBEX

Update: Target Reached without entry Trade Cancelled.
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Trade 7: Pending Long IBEX35 @ 10,800
S.L @ 10590
T1 11,160
T2 11,585

For $29,798.94 Balance, Position size = 0.4 lot (0.2+0.2) .
Risk= 4(position size) x0.8(point value per 0.1 lot)x210(stop loss)=$672 ~ 2.2% of Balance.

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Reasoning

Long term trend is up
200 Days SMA forming support
Multiple hammer candles at 200-days Average
1.271 extension of recent bullish wave
Fundamental factor: Any minor progress on Greece will probably lead to a major rally, as economic conditions improved recently in the euro area and ECB continues to pump money through QE.

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