Breakout Failure - DAX August 8th 2019
Hello Traders,
our previous idea on the DAX failed.
However, this provided a new opportunity to short the DAX.
After price peaked outside of the range (above resistance 11732), we quickly returned into yesterday's range.
This printed a Head & Shoulders pattern on the chart which confirms our bearish bias.
I am now waiting for a retest of the recent low for entry. SL is set above the right shoulder. My TP is set at a near support inside the range at 11622.
I wish you a great trading day!
our previous idea on the DAX failed.
However, this provided a new opportunity to short the DAX.
After price peaked outside of the range (above resistance 11732), we quickly returned into yesterday's range.
This printed a Head & Shoulders pattern on the chart which confirms our bearish bias.
I am now waiting for a retest of the recent low for entry. SL is set above the right shoulder. My TP is set at a near support inside the range at 11622.
I wish you a great trading day!
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.