DAX extended its almost 1 month rise and is about to hit Resistance (1) at 16065. We've had two rejections there in August.
Over this Resistance lies the 0.786 Fibonacci retracement level, a key technical Resistance during recovery rallies.
Besides those obvious bearish bias, the current rally can be compared to the pattern from March 7th to May 19th, which ended with a -4.33% pull back to the MA50 (1d).
Trading Plan:
1. Sell on the current market price.
Targets:
1. 15550 (the 0.5 Fibonacci level, on top of Support Zone (1)).
2. The MA50 (1d) on a -4.33% drop can be targeted only if you see the pull back to aggressive by its second (1d) candle as on May 23rd.
Tips:
1. The CCI (1d) is posting a Bearish Divergence, which has been an absolute (100%) sell signal during the whole year. Most pull backs on that signal have been greater than -4.33%.
Please like, follow and comment!!
Notes:
Past trading plan:
Over this Resistance lies the 0.786 Fibonacci retracement level, a key technical Resistance during recovery rallies.
Besides those obvious bearish bias, the current rally can be compared to the pattern from March 7th to May 19th, which ended with a -4.33% pull back to the MA50 (1d).
Trading Plan:
1. Sell on the current market price.
Targets:
1. 15550 (the 0.5 Fibonacci level, on top of Support Zone (1)).
2. The MA50 (1d) on a -4.33% drop can be targeted only if you see the pull back to aggressive by its second (1d) candle as on May 23rd.
Tips:
1. The CCI (1d) is posting a Bearish Divergence, which has been an absolute (100%) sell signal during the whole year. Most pull backs on that signal have been greater than -4.33%.
Please like, follow and comment!!
Notes:
Past trading plan:
Join our private Telegram signals channel, with +70% accuracy for forex and crypto! 🎉
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
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.
Join our private Telegram signals channel, with +70% accuracy for forex and crypto! 🎉
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
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.