Possible Short Trade on The DAX Looking for Fibonacci Retracemen for XETR:DAX by phatom

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Seeing if there is a Fibonacci Retracement at 38.2% on the down side today 10721 has been a pivot point previously for support/resistance .If works out will short.

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Hi Could you share an update on this?

DAX Closes Trading @ 10606 (10721-10606) 115 Drop to the South side. There is no Magic Indicator in Trading but Fibonacci Retracement and Support and Resistance are pretty good indicators when it comes to placing trades.

Looking at this point to Trade Short as the trend on the 1 hour chart is on the down side, as most of the indexes are trending down today. Looking at this point as a retracement as previously this has been a pivot point to short trade today.

Hello sir do you think it's good time to short sir?