DAX - Breakout of the bearish channel or short below 11050?
Since October 8th, the DAX has lost close to 1000 points.
This graphic offers a technical framework on the bear trend and shows that the DAX moves into a bearish parallel channel which has been tested several times.
We can also notice that prices have reacted on 11050 points.
In my case, before to take a swing position on DAX, I am waiting for :
-A breakout by the top of the bearish channel to open a long position
or
-Prices move below 11050 to short the DAX
This graphic offers a technical framework on the bear trend and shows that the DAX moves into a bearish parallel channel which has been tested several times.
We can also notice that prices have reacted on 11050 points.
In my case, before to take a swing position on DAX, I am waiting for :
-A breakout by the top of the bearish channel to open a long position
or
-Prices move below 11050 to short the DAX