DAX - Warning! The key level is 9435!
9435! Watch that! What do we have there?
Daily Kumo (very thin cloud!)
4 Hrs: 100 WMA, Future Kumo bottom
What else gives a warning signal? Daily MACD close to a bearish cross, DMI negative on both time frames, Slow Stoch bearish on both time frames.
Now it worths to watch even one lower time frame, the 1 Hr chart. Price is consolidating in the Kumo there, looking for a breakout. Levels are pretty clean. If you decide to open a short already now, you can place stops to 9575. But really the decisive bearish break would take place below 9480 and most importantly 9435! In this case tgts will be first 9300 and second 9000.
Watch it carefully as this can be a very good risk reward trade!
Daily Kumo (very thin cloud!)
4 Hrs: 100 WMA, Future Kumo bottom
What else gives a warning signal? Daily MACD close to a bearish cross, DMI negative on both time frames, Slow Stoch bearish on both time frames.
Now it worths to watch even one lower time frame, the 1 Hr chart. Price is consolidating in the Kumo there, looking for a breakout. Levels are pretty clean. If you decide to open a short already now, you can place stops to 9575. But really the decisive bearish break would take place below 9480 and most importantly 9435! In this case tgts will be first 9300 and second 9000.
Watch it carefully as this can be a very good risk reward trade!
