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WaveAnalysis
May 9, 2018 8:03 AM

GER30 Short Trade Setup Short

DAX index of German listed sharesFXCM

Description

Hello traders.

DAX has some big potential for downside. As I can see the correction is an expanding flat in 1D timeframe. It can still keep going up because we don't have any divergence in 1H in up impulse. But, when it completes the C wave, it will go down. Of course, there are some other options, so down move can be a correction instead of an impulse. The idea here is to take the trade, move the stop-loss, and let it show its potential.

Order cancelled

It broke the previous top. I'm waiting for a breakout and correction. Then I will put an entry order once more.

Comment

The momentum of upside is diying out. Wait for a correction above the trendline or after breakout and sell it.

Comment

Wait for a correction before taking any short trade.
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