HamedAghajani

Bearish trade set up on #Dax.

Short
FX:GER30   DAX Index
i) The candle on 06/11/2014 made the high of this move.
ii) The candle on 12/11/2014 closed below the low of the candle in (i).
iii) This reverse candle formation appeared right at the bottom of the Kumo Cloud, which typically acts as a Resistance area .
iv) A re test of the previous low is expected at 8406.
v) the dashed pink lines are the immediate support areas, where price swing should occur at low time frames.
vi) don't forget to trail the stop loss (every two selling bars)

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.