Thought on DAX
Good day traders!
And this is why:
1)On the H4, with the price moving below the descending trendline and below ichimoku cloud, we have a bearish bias.
2) The price may drop to the 1st support at 11621.75, where the 141.4% fibonacci projection and 200% fibonacci projection are.
3) Alternatively, the price may rise to test the 1st resistance at 12375.04, which is in line with the overlap resistance and 23.6% fibonacci retracement.
4) If the 1st resistance is broken, the price may rise to the 2nd resistance at 12630.07, where the 38.2% fibonacci retracement is.
Does anyone have a similar bearish view?
Trade Entry recommendations:
Sell Entry: 12375.04
Take Profit: 11621.75
Stop Loss: 122630.07
Other tickers to recommend:
For 5x Long Leverage:
For 5x Short Leverage:
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