From the chart it seems DAX is in the wave 4 of the cycle that has started on the 3/22.
The index should end this correction between 12150 and 12050 to reach 12500 then.
The trade is a bit risky due to past events but the R/R ratio is very interesting, so the plan is to observe the reaction of price in the area and open a trade if it is positive.
However, if DAX closes below this area, it would be very bearish for the index.
The index should end this correction between 12150 and 12050 to reach 12500 then.
The trade is a bit risky due to past events but the R/R ratio is very interesting, so the plan is to observe the reaction of price in the area and open a trade if it is positive.
However, if DAX closes below this area, it would be very bearish for the index.
Comment:
correction in WXY should end and see the start of wave 5 OR the invalidation of the scenario
Trade closed: stop reached
