DAX Two Possible Sell Setups
DAX is in a corrective structure moving up and has reached the 0.5 fib level of a major impulsive move. Price has tested a couple of time this level and looks like is dropping at the moment. Meanwhile looking in MACD we see a divergence which tells us that this up move is losing steam.
Keep a closer eye for price to break to the down this structure, wait for a smaller correction or any other sell signal (depending your strategy) and go short. Another scenario would be price to bounce from the lower trenline make another wave up, test the 0.618 fib level and start its sell off.
Keep a closer eye for price to break to the down this structure, wait for a smaller correction or any other sell signal (depending your strategy) and go short. Another scenario would be price to bounce from the lower trenline make another wave up, test the 0.618 fib level and start its sell off.
