Potential downtrend on the DAX
After the price couldn't break through the upside of the last high anymore a double top was formed and the price fall down below the trendline.
Now the price has retraced 76.40% and it seems that a lower high has formed. Normally I would watch for a good opportunity for a short trade here but because of the referendum tomorrow I will stay out of any trades for this week and wait until monday to trade again.
Eventually the referendum is helping to drop the price as I expect here but I think the risk is way to high to be stopped out in the next two days.
I wish everybody who is still trading good luck and nice profits.
Dennis
PS: I give no advice, I only share my opinion.
Now the price has retraced 76.40% and it seems that a lower high has formed. Normally I would watch for a good opportunity for a short trade here but because of the referendum tomorrow I will stay out of any trades for this week and wait until monday to trade again.
Eventually the referendum is helping to drop the price as I expect here but I think the risk is way to high to be stopped out in the next two days.
I wish everybody who is still trading good luck and nice profits.
Dennis
PS: I give no advice, I only share my opinion.