Hello traders as we can see on daily chart that DE30 is rallying down towards strong support levels. It is already reached 50.0% of fib level. Here we have three areas from where we can go long on this index.
Entry points
1. Current price i.e 50% fib level for short term pull back
2. 60% fib level because it will test strong support level and will likely to bounce back
3. 10600 price because there is a gap which market could drop in order to fill it.
One of the major factor that is affecting economies of all countries is increase in corona cases as we heard. So it is possible for indices to drop more. So I will suggest to wait for price to move closer to our 2nd entry point in order to go for long because possibility of pull back from this point will be more likely to happen.
Traders if you like this idea please let me know in the comment section below and keep following for more upcoming ideas.
Entry points
1. Current price i.e 50% fib level for short term pull back
2. 60% fib level because it will test strong support level and will likely to bounce back
3. 10600 price because there is a gap which market could drop in order to fill it.
One of the major factor that is affecting economies of all countries is increase in corona cases as we heard. So it is possible for indices to drop more. So I will suggest to wait for price to move closer to our 2nd entry point in order to go for long because possibility of pull back from this point will be more likely to happen.
Traders if you like this idea please let me know in the comment section below and keep following for more upcoming ideas.