Hi all.
I longed DAX today, based on beautiful correction to 18120 area and an accumulation today on European session . Lower timeframes M1 and M5 printed a ' Perfect entry ' signal for me with change of character and break of structure .
Together with the sentiment changing on American indices, I longed DAX on New York session open today around 18120 price....
With the majority of global stock indices on a seasonal correction, DAX hasn't escaped the pattern and is down -4.85% from the 2019 highs. What stands out is that the downside on this correction is limited to -5.85% (avg) based on the last occurrence of the Golden Cross (MA50 over MA200) on a similar candlestick pattern.
In 2016 following the post Brexit rally...
