From a technical standpoint, I believe the DAX has formed a medium-term top at 23,504 and has begun a 5-wave structure that is likely completing wave A of an A-B-C correction within a larger 4th wave.
On an hourly basis, the trend has shifted, and I consider any retracement or bounce as a solid opportunity to take a short position. The structure indicates that we are in the early stages of a corrective move, and a continuation of the bearish momentum is expected as the market unfolds.
Traders should keep an eye on key levels for potential entry points as the market tests resistance. 📉
On an hourly basis, the trend has shifted, and I consider any retracement or bounce as a solid opportunity to take a short position. The structure indicates that we are in the early stages of a corrective move, and a continuation of the bearish momentum is expected as the market unfolds.
Traders should keep an eye on key levels for potential entry points as the market tests resistance. 📉
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