-TOP author on TradingView -15+ years experience in markets -Professional chart break downs -Supply/Demand Zones -TD9 counts / combo review -Key S/R levels -No junk on my charts -Frequent updates -Covering FX/crypto/US stocks -24/7 uptime so constant updates
DAX D1: Setting up for 15%+ correction(SL/TP)(NEW) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. Tagged as LONG because short-term I expect mild gains / trigger overhead liquidity before reversal (BEARS).
πΈ Summary and potential trade setup ::: DAX daily chart review and outlook ::: V-shape recovery almost complete now ::: EU GDP massive downer recently 10%+ Qoq ::: New wave of global lockdowns ::: Spain corona cases rising fast ::: Economy is in bad shape ::: 13 400 - 13 500 heavy overhead liquidity ::: GAP is getting filled and then we are getting ::: a 10-15% correction in August/September 2020 ::: up to 30% correction next 6/9 months ::: long-tern distribution in progress ::: we are stuck in range for 2 000 days now ::: not a BULLISH sign ::: Seasonality: August/September WORST month for STOCKS ::: Recommended strategy: SHORT IT 13 400 - 13 500 ::: SL 5% TP1 15% TP2 +25% ::: SWING trade setup for patient traders ::: do not expect fast/overnight gains ::: good luck traders πΈ Supply/Demand Zones ::: N/A ::: N/A πΈ Other noteworthy technicals/fundies ::: TD9/Combo update: N/A ::: Sentiment short-term: BULLS ::: Sentiment outlook mid-term: BEARS/REVERSAL