DAX: Short term buy opportunity.
DAX is rebounding after a -4.60% decline that turned the 1D timeframe bearish (RSI = 42.197, MACD = -69.700, ADX = 37.228). Even though that decline hit the bottom of the long term Channel Up, we focus more on the short term where after similar declines in the past two months (both -4.30%), the price rebounded to at leastthe 0.618 Fibonacci level.
Consequently we go short and target the 0.618 Fibonacci (TP = 15,930) which can connect with the 4H MA200 as well.
Prior idea:
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Consequently we go short and target the 0.618 Fibonacci (TP = 15,930) which can connect with the 4H MA200 as well.
Prior idea:
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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