If the DAX slips under this Friday's low and Tuesday's low, it could trigger a chain of stop losses and create an excellent, low-risk, high-reward trade setup. We will be able to sell against 11350-11400 on any rallies back up from 11,200 and would be extremely low risk, high reward trading setups.
Last month I published a chart pointing out the topping pattern that was starting and now that the DAX has moved about 5% lower, there is an even larger distribution pattern setting up.
There are 11-days here at the current price, so what we need to see to get short is for the market to drop under 11380-11375 and that will trigger a new target 800 points lower over the following 11-days.
Stay tuned!
Tim 1:53PM EST Friday, May 15, 2015 11457 last DAX (GER30)
Last month I published a chart pointing out the topping pattern that was starting and now that the DAX has moved about 5% lower, there is an even larger distribution pattern setting up.
There are 11-days here at the current price, so what we need to see to get short is for the market to drop under 11380-11375 and that will trigger a new target 800 points lower over the following 11-days.
Stay tuned!
Tim 1:53PM EST Friday, May 15, 2015 11457 last DAX (GER30)
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