DAX short - trade in the correction of the daily long trend
Correction of the daily long trend is valid from 10 June, so I'm in short mode. The last impulse move to the upside was quite steep, so a deep correction is possible, and FIBO 50/61.8 levels could be tested (marked with gray - correction zone / FIBO 38.2 already done).
Target Zone 1 was calculated by the correction of the correction on H4 and its FIBO 161.8 points to a daily support level, therefore, likely to be a great target.
The prevailing long trend remains until price SIGNIFICANTLY closes below the starting point of the last impulse (close of 14 May). For me it resumes with a SIGNIFICANT close above 12 565.1
Target Zone 1 was calculated by the correction of the correction on H4 and its FIBO 161.8 points to a daily support level, therefore, likely to be a great target.
The prevailing long trend remains until price SIGNIFICANTLY closes below the starting point of the last impulse (close of 14 May). For me it resumes with a SIGNIFICANT close above 12 565.1
Kommentera:
The idea had a flaw. The H4 technical zone wasn't broken SIGNIFICANTLY. The candle that broke below had a very small body, so I shouldn't have gone short. The problem is with the mind. One should be totally independent in the analysis considering the direction. Only an open mind can see the chart clearly!
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