Shorting the DAX with a 7+ Risk/Reward

OANDA:DE30EUR   Germany 30
Good morning from us!

Here's a little update of what we believe will be happening with the DAX over the next few trading sessions:

  • The daily is making yet another test of the broken contraction.

    The 4H seems to have formed another contraction after the breakout and now retest of major contraction.

    The 1H is heading to test the top of a bullish channel and yesterdays high could be the reversal point.

As a result we believe that a bearish turn-around is due soon.

Our target here will be to enter short at yesterdays high and once the rising channel is broken on the 1H, move SL into Breakeven.
Comment: Boom! Our famous 3 higher highs patterns completed on the DAX!


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