This is what I am thinking right now: A retest of today's high at 11892. It may shoot up from there. I expect it to retrace where 50% level becomes critical as if it reverses at that point, we're likely to see 12015 (scenario A) or it retraces further down to 61.8% for an up to around 11865 followed by a sharpish down towards 11557 - 11479 (scenario B).
I am biased towards scenario B.
As always, I urge you to trade your own plan. I'll update this idea as things develop. Good luck to you all!
I am biased towards scenario B.
As always, I urge you to trade your own plan. I'll update this idea as things develop. Good luck to you all!
Trade active:
Getting the distinct feeling that DAX is currently working on a bull flag.
That would mean scenario A. Whether she'll go down to 50% retracement before the breakout north is the question... Currently that looks unlikely.
That would mean scenario A. Whether she'll go down to 50% retracement before the breakout north is the question... Currently that looks unlikely.
Comment:
61.8% FIB reached... potentially back up from here...
Trade closed: target reached