tradetheday

DAX bearish flag targeting 12535

Short
CURRENCYCOM:DE30   DAX 30
Hello Fellow Trader!

DAX bearish flag looking to continue the down trend for at least the short term.

SPX also starting to roll as global indices start to sell off.


Key Points:
- Daily – Below 50 EMA
- Daily – Targeting Trend line or 200 EMA
- Below 50 EMA
- Below 200 EMA
- Flag pattern for break out
- SPX futures bearish


Key Levels:
Support – 12680, 12535
Resistance – 50 EMA , 200 EMA , 12795

Entry Zone:
Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals.
Optimal Entry – 12770
Supporting Entry – 12750 – Break of flag

Candle Reversals for entry
- Bearish Shooting Star
- Bearish Engulfing
- Bearish Dark Cloud Cover

The Risk:
As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios.
If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital.

IF: Price breaks above 12851 and violates 50 EMA – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter.

Reward / Reward Targets:
Optimal Entry 12770 – Target 1 12795 = 3x Reward to Risk
Supporting Entry 12750 – Target 1 12795 = 2.5x Reward to Risk
👉 Facebook: @tradetheday https://www.facebook.com/tradetheday
👉 Instagram: tradethedayfx https://www.instagram.com/tradethedayfx
👉 Telegram: https://t.me/tradetheday
👉 Twitter: @TradeTheDayFX https://twitter.com/tradethedayfx

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out