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DK_Investment
Nov 10, 2020 10:20 AM

Deutsche Bank - trade the correction Short

DEUTSCHE BANK AG NA O.N.XETR

Description

Dear traders and followers,

the Deutsche Bank price reached an 5 month high and is likely to go into correction before the next up wave starts.

RSI and MACD indicator on 12 hour chart are both near trend reversal. A final bull trap for short seller liquidation is still possible. Enter at the top of the sell area and not at the bottom. The price reached a long term down trend line which acts as resistance as well.

Take profit at 38.2 Fibonacci retracement area which could be a nice long term buy entry.

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