Short
DAX UPDATE.
Germany30 is looking beautiful here for a roll over, strong bearish trend on all time frames in confluence with the bearish fundamentals - makes this a high probability setup.
On the 1D TF price recently broke below structure with a bearish impulse, after the impulse the market has made a nice correction forming a bullish induction trend during the first half of the week, we can identify price is testing the 0.618 but we have a nice strong zone of confluence at the 0.786 which is my POI for potential short entries, we can see price has broke above the intraday descending trendline but the bearish LH LL formation is still valid, this trendline breakout has created liquidity below from retail traders looking to long, i expect the market to move into the liquidity and make the continuation to the downside.
However currently on the 1h and 4H TF everything is short term bullish we need to wait on the LTF for entry confirmations before we can potentially take this setup
On the 1D TF price recently broke below structure with a bearish impulse, after the impulse the market has made a nice correction forming a bullish induction trend during the first half of the week, we can identify price is testing the 0.618 but we have a nice strong zone of confluence at the 0.786 which is my POI for potential short entries, we can see price has broke above the intraday descending trendline but the bearish LH LL formation is still valid, this trendline breakout has created liquidity below from retail traders looking to long, i expect the market to move into the liquidity and make the continuation to the downside.
However currently on the 1h and 4H TF everything is short term bullish we need to wait on the LTF for entry confirmations before we can potentially take this setup
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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.