Dax only managed to provide a classic fake-out of the bearish channel, surviving two weeks above resistance turned support.
I believe price is heading to the weekly TL.
Expecting a pull back at some point, perhaps 10031 will serve as a momentary support where profit taking will commence before more bears push price to the TL.
It is clear DAX is in a bad way along with indices across the board, if the fed goes ahead with their suspected rate hike we may see very erratic price swings. I'm staying out until then unless I see opportunities on smaller time frames.
Happy Trading,
Chartster
I believe price is heading to the weekly TL.
Expecting a pull back at some point, perhaps 10031 will serve as a momentary support where profit taking will commence before more bears push price to the TL.
It is clear DAX is in a bad way along with indices across the board, if the fed goes ahead with their suspected rate hike we may see very erratic price swings. I'm staying out until then unless I see opportunities on smaller time frames.
Happy Trading,
Chartster