Thyssenkrupp AG (TKA - DAX) is in downtrend. The 5th wave down shown in chart is in progress. Sell below 5.34 after breaking down that level with stops above 5.75 for new low as target. It is much under-performer to DAX index.
Trade closed: stop reached
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4th wave completed where stops taken out. and then start going down as expected. It calls for new entry.
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The structure turned out to be a ABC rather than throught of impulse.
What I learn: 1). Always have a bigger time frame clear count before any trading. 2). Market direction is more important in trading.