Sl closed my short at 3650
The first wave of the drop didn't reach my target and I missed the exit on smaller time frame. Lowered my Sl to 3659.5. I plan to trail the MA20 line if the decline will continue.
|EURO STOXX50: 1 hour chart|
Trailing stop is on. I hope the channel will break right now.
|EURO STOXX50: 4 hours chart|
Sl lowered to 3712.
The DAX is starting to look bearish to me concerning near term price action. The only "immediate" bullish outlook is a flat wave [ii] pattern. But if the market break below to yesterday's low then this can be ruled out too. I expect a tricky range and a bigger flat wave pattern as wave B of (4). This is just a thought. Further confirmation is needed to deal with this context.
|DAX: h1 -h4 - daily charts|
|EUSTOXX50 - daily chart|