DAX:
Date:August 2, 2016
D1 Chart: Short Trend
Price of the index reached to 61,8 Fibo and made a test for a breakthrough for the second time. Horizontal resistance at 10,500
Price Action: Engulfing bar and Dark Cloud formation are at strong resistance levels - short signal
Alternative scenario: If the price makes a breakthrough above 61,8% Fibo and the horizontal resistance, this will break the bear scenario
Technical indicators:
DEM (14) - In overbought market and turnes for short
Entry for short around: 10 300
SL: 10,500
Jr. Trader - S. Fuchedzhiev
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