MikulovicFOREX
Short

DAX 24/07-19: UPDATE

OANDA:DE30EUR   Germany 30
Welcome to the analysis

Here we see fib extensions from the date 27/12 to 05/02 and 08/02 and a visible volume profile
When you look at the chart, you see the price drop from the 1,618 fib level while its obvious that we are trading in a low volume area and most of the orders have been and is placed at a much lower price.

I also posted this on the 8th of July without noticing the fib levels:



I managed to close my short trade in profit, and booked some small profits trading intraday. it took some time for the market to retrace but finally markets came to where i had suspected it to go, based on order flow the particular days when this market was dropping, which you can see clearly here in another trade from 11th of July:



Overall: Im looking to take profits around the 100% fib extension line (12k zone) and potentially waiting for the markets to retrace from that point, seeing that we got a heavy flow of orders laying in that area.

Please feel free to comment
God bless you
Comment:


We see some divergences on the smaller 1h timeframe, also noticing the small amount of volume at this particular area... great time to get in
Comment: Closed most of my position, moved stop loss to break even and leaving it to see where market wants to go. 11500 ideally
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