(short in progress) week21 Dax D1 resisted at 10000 psy level more downside

D1

A huge bear flag has been formed over the past few months, in line with the emerging bearish downtrend.
Current price is on the verge of breaking this bear flag and for more downside.

week21 Dax30 D1 resisted at 10000 and breaking bearflag 180516

h4
in the lower timeframe, a week to week successive downtrend is already in progress. Nearing the trendline, sharp price actions can be found near the 10000 level resistance. Price is likely to resume downtrend this week, with 3 more trading days to go.

week21 Dax30 h4 bearish trappedtraders 180516

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s