D30eur
Euro Stocks approaching key fib level - GDAX! (D30EUR)Hello friends. Fibonacci Time Zones as recently seen in bitcoin can be very useful, particularly the .618. Like all fib tools, there are many ways to use them but, I have found this to be the most effective. They can be used to explore timing for calling tops, bottoms, reversal areas, or important zones.
We can see here from the .236 and .382 time zones in DAX's trend signify reversal points, which is what I expect from the .618 being that the moving fibs have us in an oversold zone now.
Looking back, we can see that DAX rarely maintains a breakout into this zone, having done this once only recently leading to the rally in December 2017.
Most often, a breakdown from this level leads to a test of the green zone below (also calculated with Fibonacci MA).
In addition to these factors, TD Sequential is just hours from completing a 9 - 13 countdown signalling a potential sell opportunity.
Watch for DAX to show signs of weakness soon.
Good luck traders
