Phenlx
Long

DAX after some bearish days, what might be next?

FX:GER30   DAX index of German listed shares
326 0 4
Some nice pips have been made with yesterday´s trade set up. So far so good, but how can market behave now?
Although we have a nice bearish bias and being "short" is definately the better choice, we might also be prepared for upcoming bullish corrections since markets are moving in ZicZac waves.
Two important Levels are ahead.
One Level around 8715 is the purple Trend Support Line which is today triggered and being tested.
Another Level is around 8340 which is the D completion of a possible AB=CD pattern (blue lines) and also not drawed in this chart a smaller AB=CD pattern of current downleg.
Both Levels are indicating a possible Trend Reversal Zone which might initiate on short term Basis an upleg.

Summarizing: I am already short in the market and will keep tight Stop Loss level and being prepared for a possible bullish short term correction.

I linked former bigger analysis on this one, since they are still valid and giving the overall guidance.


Important: :-)
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Please remind yourself that this is just my personal view on the market and you always should do your own analysis before trading. My Analysis should not serve as any recommendation to buy or to sell. My analysis are just my ideas and opinion how market could develop.
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