So the Dax has been on fire recently, but the move has been strong and no significant retracement has occurred and so I'm expecting a counter trend move in the coming days or next week.
Indications show the price to be nearing oversold territory and the wave trend showing a move is soon ready for a move south. The weekly (this week) and monthly pivot have yet to be hit and so are great potential targets for price to retrace towards. Watch out for price action to show buying weakness which if a doji or hammer type candle forms along with a bearish candle below the resistance for conformation.
For more information/trade setups, follow me on here or at ejfxtrading.com
Indications show the price to be nearing oversold territory and the wave trend showing a move is soon ready for a move south. The weekly (this week) and monthly pivot have yet to be hit and so are great potential targets for price to retrace towards. Watch out for price action to show buying weakness which if a doji or hammer type candle forms along with a bearish candle below the resistance for conformation.
For more information/trade setups, follow me on here or at ejfxtrading.com
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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.
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.