Last week DAX retreat from highs, correction quite deep as reached main consolidation zone @11950. Poor results in car manufacturing sector lead by Mercedes just help shake off weak long positions.
Even my short scalp get bonus with price taged under zone and almost reach TP2
Sellers sequence still have room to go if we have main downtrend in play and reaction to fail breakout.
Soon we will see what or who is in control. Buyers taking off some weight from long positions as that created ceiling @11300 or we will have sellers comeback and now waiting to reload at 11,150 – 11,200 for next leg lower.
Buyers need to act quick, Index lost good amount weight so can be easier to breach last high and test main downtrend around 11400+.
Some troubles can happens on way around 11,150/250
Targets 11,150/220 and 11460 in extension
Sellers made nice come back, seems everyone was long all ready and too busy with counting profits and how great is going to be when Index score new ATH, well market need more like just 4 weeks of rally to forget 2018 and price not tend to rush just so retail dreams come true.
So far sellers mark they supply zone once again and main support still way lower.
Targets 10800/760 and 10430 in extension