Breakout Failure - DAX August 8th 2019
Hello Traders,
our previous idea on the DAX failed.
However, this provided a new opportunity to short the DAX.
After price peaked outside of the range (above resistance 11732), we quickly returned into yesterday's range.
This printed a Head & Shoulders pattern on the chart which confirms our bearish bias.
I am now waiting for a retest of the recent low for entry. SL is set above the right shoulder. My TP is set at a near support inside the range at 11622.
I wish you a great trading day!
our previous idea on the DAX failed.
However, this provided a new opportunity to short the DAX.
After price peaked outside of the range (above resistance 11732), we quickly returned into yesterday's range.
This printed a Head & Shoulders pattern on the chart which confirms our bearish bias.
I am now waiting for a retest of the recent low for entry. SL is set above the right shoulder. My TP is set at a near support inside the range at 11622.
I wish you a great trading day!
