France 40 - Short Order
Entry: €5,659.6
TP & RR: €5,569.7 (1.7)
Stop Loss: €5,710.8
REASONS FOR THE TRADE
Typically this isn't a trade I would take as the RR is less than 2 and I consider those unfavorable. However, the price may form a lower high and I want to take advantage of the action if that is the case. The SL is placed just above the previous high....
The DAX 30 index surged to the highest since January 2018 on Friday following the US-China trade deal. But the index has come-off sharply from there. DAX is likely to trade sideways after the German Manufacturing PMI missed the estimates. Services PMI rose to 52.0, up from 51.7, matched expectations.
The nearest support bellow is H4 50 SMA and the middle line of...
4H CHART EXPLANATION:
Main Items we observe on the Chart:
- Price broke the Ascending Channel and, then, bounced on the Resistance Zone.
- If price breaks the Ascending Trendline at 3381, it has potential to move down towards the Support Zone at 3300.
We are looking for Sell Setups on lower timeframes.
MULTI TIMEFRAME VISION:
- Weekly
- Daily
