London Watchlist: A high probability of a breakout on the DAX!Hey hey traders and wannabe traders!
The London trading session is in full force and the markets are already moving! In the video we explain plenty of info about the Coronavirus and the current developments but don't go into the probabilities much, we did that with our community already! This video is all about our trading tactic/analysis on the DAX!
Right now the DAX is showing more excellent signs that a bearish move is probably on the cards in the upcoming 8 hours or so... we remain short here and really believe with strong conviction that the bears will be able to take control with as we have technicals, fundamentals and sentimentals supporting a weaker DAX!
On the technical side, the charts explain it all, on the fundamental the German GDP data was bad and the EC (European Commission) downgraded the outlook for the European economy and on the sentimental... well, the Coronavirus!
All in all this looks like a pretty decent short positon but like anything in the markets, it's not 100% so make sure you have your exit area!
Since the US markets are closed we will not do a New York watchlist later today... so see you tomorrow again for the London open, if we do find any interesting trades to take we will release them if we find the time to do so!
Give us a follow and we'll make sure to keep you educated with specific info and solid trade setups!
