FiboTradeMasters

FESX Stoxx 50 Open Short at Very Attractive R/R

Short
EUREX:FESX1!   DJ EURO STOXX 50 FUTURES
Hi all,

Monitoring closely FESX over the past month, the chance for a high probability high r/r short opportunity has come. Don't miss it even for a small position just to try!

Following the fibo levels (1.618/2.618), it has turned long at end Oct and climbed to a high level of 3467 in this week after passing the 1.618 fibo level. On the 4 hourly RSI , it is clear that divergence has occurred (higher price levels broken on lower RSI level) with price action also clearly showing compression after the 9th Nov spike.

Two ways to trade this:

1. Enter now at around 3450, with stop at 3472, 1st tgt 3248 (r/r: 9x) , 2nd tgt 3110 (r/r: 15x), probability of profitable trade 50%
2. Enter now at around 3450, with stop at 3512, 1st tgt 3248 (r/r: 3x) , 2nd tgt 3110 (r/r: 5x), probability of profitable trade 85%

Happy trading and please click agree/like on this idea to support my work as well as follow my Tradingview profile to get more trade ideas update.

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