DAX is showing excellent bearish signs on the 1H and 4H charts, the only problem is the major support of the 1D chart.
As an overall with commodities increasing heavy yesterday we believe that inflation will start to tick up again which could cause issues to indices such as the DAX and DJ30.
Yesterday we had a strong sell-off on the DAX around the London open, we never really recovered that drop but the pullback brought us to the 30/38.2 fib zone, which in our system means possible sells.
We took a 3 to 1 RR trade here and we're supported by lower lows and lower highs of the overall 4H play, which is resisted with a trend line too.
As an overall with commodities increasing heavy yesterday we believe that inflation will start to tick up again which could cause issues to indices such as the DAX and DJ30.
Yesterday we had a strong sell-off on the DAX around the London open, we never really recovered that drop but the pullback brought us to the 30/38.2 fib zone, which in our system means possible sells.
We took a 3 to 1 RR trade here and we're supported by lower lows and lower highs of the overall 4H play, which is resisted with a trend line too.
Order cancelled:
Reversed to longs at the break of 30%