Immediate short on DAX
makes sense if you look at it on a weekly basis there is reversal structure forming at the current price, the long wicked dojis and red candle pinbars are associated with a move lower. The volume
is accumulating for a slight retrace as the DAX
cannot catch up to the US equities at all-time highs. The retrace is still the previous broken level which happens to be the 50% retrace from the impulse move. That would mean that a 5% pullback is to be expected in the DAX
and that can be ignited by a pullback in the S&P 500
market which we are anticipating as well. The upside move is the extension based on recent impulses right at 13375.
Disclaimer: This trade idea is for educational purposes exclusively, this does not constitute investment or trading advice. TRADEPRO Academy is not responsible for any market activity.