mr.dmizer
Short

Lower at the beginning of 2016

FX:GER30   DAX index of German listed shares
301 0 4
After a false breakout, followed by an acceleration to the downside, we briefly found ourselves visiting the red area (50 %) of the fib retracement. Essentially I took it as a clear sign of a dying bullish trend , but just like in every classic case we now made it back to the yellow area (23,6 %) before continuing to fall. The fall itself I expect will begin shortly.
Trade closed: target reached: Target reached, but now I expect it to go even lower quite soon.
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