DAX IndexShort
DAX bearish engulfing pattern at resistance
Why I'm looking to short here:
Obviously:
- We're looking to go with the trend, which has been a bear trend since January.
- Even if we were to try to trade for a breakout above the resistance, we would be trading right into resistance.
Also:
- Price was rejected from resistance
- Bearish Engulfing candlestick pattern with superlarge red candle compared to the previous one.
- RSI rejected at <50
Obviously:
- We're looking to go with the trend, which has been a bear trend since January.
- Even if we were to try to trade for a breakout above the resistance, we would be trading right into resistance.
Also:
- Price was rejected from resistance
- Bearish Engulfing candlestick pattern with superlarge red candle compared to the previous one.
- RSI rejected at <50
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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.