DAX IndexUpdated For Friday 27-01-2017
This is what I am thinking right now: A retest of today's high at 11892. It may shoot up from there. I expect it to retrace where 50% level becomes critical as if it reverses at that point, we're likely to see 12015 (scenario A) or it retraces further down to 61.8% for an up to around 11865 followed by a sharpish down towards 11557 - 11479 (scenario B).
I am biased towards scenario B.
As always, I urge you to trade your own plan. I'll update this idea as things develop. Good luck to you all!
I am biased towards scenario B.
As always, I urge you to trade your own plan. I'll update this idea as things develop. Good luck to you all!
Trade active
Getting the distinct feeling that DAX is currently working on a bull flag.That would mean scenario A. Whether she'll go down to 50% retracement before the breakout north is the question... Currently that looks unlikely.
Note
61.8% FIB reached... potentially back up from here...Trade closed: target reached
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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.