Fxprotrader
Short

Dax@ Short setup ahead after ABCDE completion

FX:GER30   DAX Index
A nice bearish setup has formed here in Dax . Price is in a corrective structure having already formed an abcde pattern. E point has formed where price is testing a long term resistance level ( black trendline ) and a short term resistance ( the upper trnedline of a rising channel , the purpple one in the chart).

A nice way to trade this setup is to move to a lower timefreme and wait for d-e leg breakout with our stoploss above e point.

Here's how to enter the market:
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