Update on yesterday's post on the DAX index. We hit scenario 2: there was a clean break through this strong support and now a potential retracement is forming.
In my opinion, this could be the start of a strong down trend and I am only looking to short this market.
I have taken profits on half of my short trade, moved my stop loss to breakeven and I am looking to add more shorts to build a longer term position if price retraces up and bounces off the previous strong support zone.
Good luck traders!