DAX DEU30 SHORT but possible Bottom at 11330 found
Hello to all who watch my charts.
Who my idea Dax Short from 21.3. followed (fall down out of the the Long Channel in PINK)
is now already 300 Dax point forward.
But as soon as we have reached a point at which a small bottom formation is emerging today.
In the area around 11300 to 11330, DAX DEU30 has today stopped its downward trend several times.
We have to watch this in details tomorrow.
Actually, we have fallen further down out of the short channel even down what is always negative for the price in the future
On the other hand, such multiple support bounce on 1 HR Chart basis is a sign that trendchange possibly! is to come.
To be shure of these the DAX would first have to recapture my blue line around 11420.
Should Dax be able to manage that (> 11420 on the hour close course), I would continue to be very careful holding short positions.
But should he just give up this small support aerea at around 11330, i exspect downside pressure .
--------------------
--This information is not a recommendation to buy or sell. It is to be used for educational purposes only .Alllways do your own research---
-----------------------
Related publications
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.