Swing short DAX squiggly line idea

European stocks have been on a tear lately, while macroeconomic conditions have been slowing down.

DAX is in an over-extended move with very shallow pullbacks, took out the high of the run started last February.

Swing short positions, SL at 15898, multiple targets, mainly around 14900, 14560, and 14100.

If the price stalls / I don't see a strong move down from this area next week or two, I will cut the position.

Comment:

Target 1 hit.

DAX has been quite resilient the past month since posting this idea, but finally broke down.

All eyes on ECB and FED rate hike plan post first cracks of banking instability

Trade closed: target reached:

Sorry for no update guys,
Target 2 hit at 14560 on 20th March

along with that I moved the Stop Loss to Break Even, which was hit on March 30th.

Target 1: 1,6R (closed 40% of position)
Target 2: 2,5R (closed 30% of position)
SL hit at BE (closed remaining 30% of position)

Comment:

Market is pushing significantly higher than I expected. I am still short-biased, but will not re-enter, until I see clear break of market structure to the downside.

See you on the next one!