From a technical standpoint, I believe the DAX has formed a medium-term top at 23,504 and has begun a 5-wave structure that is likely completing wave A of an A-B-C correction within a larger 4th wave.
On an hourly basis, the trend has shifted, and I consider any retracement or bounce as a solid opportunity to take a short position. The structure indicates that we are in the early stages of a corrective move, and a continuation of the bearish momentum is expected as the market unfolds.
Traders should keep an eye on key levels for potential entry points as the market tests resistance. 📉
On an hourly basis, the trend has shifted, and I consider any retracement or bounce as a solid opportunity to take a short position. The structure indicates that we are in the early stages of a corrective move, and a continuation of the bearish momentum is expected as the market unfolds.
Traders should keep an eye on key levels for potential entry points as the market tests resistance. 📉
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.