The DAX is currently trading around 24,150. On the 4-hour chart, price has dropped below the 10 EMA (red line) and failed to reclaim it, which is a bearish signal. The short-term EMAs (yellow and green) are flattening and starting to turn down, showing weakening bullish momentum.
Trade Setup
Entry: Around 24,150 – 24,160
Stop Loss: Above 24,224 (recent local high)
Target 1 (T1): 24,000
Target 2 (T2): 23,488
Target 3 (T3): 23,053
Why I’m Short
Price is now trading weak, also Nasdaq shows signs of a drop - which usually signals bearish momentum.
Multiple failed attempts to reclaim the moving averages show that buyers are losing strength.
The targets are based on clear historical support levels that have been tested multiple times.
Summary
I’m looking for a short entry around 24,150 – 24,160, with targets at 24,000, 23,488, and 23,053.
If price breaks above 24,224 with conviction, the setup becomes invalid.
No financial advice – just my personal trade idea.
Trade Setup
Entry: Around 24,150 – 24,160
Stop Loss: Above 24,224 (recent local high)
Target 1 (T1): 24,000
Target 2 (T2): 23,488
Target 3 (T3): 23,053
Why I’m Short
Price is now trading weak, also Nasdaq shows signs of a drop - which usually signals bearish momentum.
Multiple failed attempts to reclaim the moving averages show that buyers are losing strength.
The targets are based on clear historical support levels that have been tested multiple times.
Summary
I’m looking for a short entry around 24,150 – 24,160, with targets at 24,000, 23,488, and 23,053.
If price breaks above 24,224 with conviction, the setup becomes invalid.
No financial advice – just my personal trade idea.
Note
T1 reached. Nasdaq doing strange things, will reduce my trade a bit here - also with that Nvidia Numbers coming out this evening.Trade closed: target reached
Target 2 close. Will close the trade now as I won't be able to look for it for some time. Expect some bounce in T2 area.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.