It looks like DAX is undergoing a correction after a prolonged bull rally. However, based on my personal experience, if the Fibonacci level has broken the 0.618 level, I generally consider this as a trend reversal. We can now say corrections are upwards rather than downwards. Therefore, my view on DAX is a trend reversal, and the rises are opportunities for selling with stops.
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.