101563927 wrote a post · Sep 30, 2022 17:47

Thought on DAX

Good day traders!

We're sharing idea for $German DAX Index (.GDAXI)$

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:

Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more

Translate

Report

29K Views

Comment

101563927

Followers

Following

Visitors