Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

Dax Analysis & Sell Trade Explained - 18 June 2024 #trading #forex #forexsignals #fyp #shorts

18 Jun 2024 · 1 min

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Vladimir Ribakov analyzes the DAX using Fibonacci levels and trend lines. The daily chart shows price trapped in a Fibonacci extension zone with a broken uptrend line. On the 4-hour chart, three consecutive lower highs and lower lows confirm downtrend momentum, suggesting a sell-the-rallies strategy.

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Can DAX push lower from here? Let's take a look on the charts. On a daily chart, at the end of the 3 waves, we are blocked on Fibonacci extension zone. The price pushed down since. On the same daily chart, the recent rising trend line was broken to the downside. 4-hour chart gives classical bearish trending structures: 3 lower highs, lower lows, stands for bearish price action. Sell the rallies as long as these key Fibonacci levels hold is my trading plan. What do you think about DAX? Share in the comments. Join Home Trader Club for complete trading courses, real-time trading education, and real-time trading opportunities.