The German Stock Index had a phenomenal uprise since the break of resistance around 12475, but at some time every Party has to at least close for a few hours to clean up the mess.
German Stocks where pushing strongs with gains about 10% - 20% across the board and the whole market has positioned itself in overbought territory where Profit taking will come into play to start some kind of Pullback.
Positioning your Risk Management with much breathing room above 12950 gives you a good Risk-Reward Setup to place yourself in the bearish Pullback Camp.
Pullback Targets
=============
1. Target: 12620 / Retest of Daily 20-EMA / 0.236 Fib Retracement
2. Target: 12450 / Retest of Daily 26 or even 50-EMA / 0.382 - 0.5 Retracement
Daily Stochastic is still in the Bullish Control Zone which did not gave you any Signal to be overall bearish on the Daily Chart and the Daily RSI is above 65 with a huge divergence from the EMA
Have your stops in place and trade safe!
===========================
You can copy and follow my Trades on eToro
www.etoro.com/people/koboltrading
===========================
#DAX #DAXPERFORMANCE #DAXTRADING #TECHNICALANALYSIS #GER30 #DE30 $DAX $GER30 $DE30 #GERMANINDEX #DEUTSCHERAKTIENINDEX #DE30EUR
German Stocks where pushing strongs with gains about 10% - 20% across the board and the whole market has positioned itself in overbought territory where Profit taking will come into play to start some kind of Pullback.
Positioning your Risk Management with much breathing room above 12950 gives you a good Risk-Reward Setup to place yourself in the bearish Pullback Camp.
Pullback Targets
=============
1. Target: 12620 / Retest of Daily 20-EMA / 0.236 Fib Retracement
2. Target: 12450 / Retest of Daily 26 or even 50-EMA / 0.382 - 0.5 Retracement
Daily Stochastic is still in the Bullish Control Zone which did not gave you any Signal to be overall bearish on the Daily Chart and the Daily RSI is above 65 with a huge divergence from the EMA
Have your stops in place and trade safe!
===========================
You can copy and follow my Trades on eToro
www.etoro.com/people/koboltrading
===========================
#DAX #DAXPERFORMANCE #DAXTRADING #TECHNICALANALYSIS #GER30 #DE30 $DAX $GER30 $DE30 #GERMANINDEX #DEUTSCHERAKTIENINDEX #DE30EUR
