On the daily timeframe the Dax is showing signs of a re-accumulation trading range. There is strength in the market. However this short term distribution is the first sign of weakness starting to creep into the range.
If price trades toward the bottom of the trading range for the next couple of days, the market could go on to break down further to make for a great short. Before this happens I believe we will see a retest of the top of the daily trading range (followed by the breakdown if weakness continues).
If price trades toward the bottom of the trading range for the next couple of days, the market could go on to break down further to make for a great short. Before this happens I believe we will see a retest of the top of the daily trading range (followed by the breakdown if weakness continues).
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