┬áCentral banks are inundating markets with fresh and abundant money. This is obviously distorting the market but here we go…
Dax passed throught the 10450 level but for now is at a standstill. This week major central banks will have meeting so expect some dangerous volatility . I stick with my plan to short from a convenient position where the R/R ratio is close to optimal. The pink lines shows major support resistances.
The 50 days MA both simple and exponential are plotted as well. Currently best shorting level would be at around 10770 area (blue shade). In my opinion we are not experiencing a V shaped recovery but most likely a rebound inside a bear market.
I will be patient and await for confirmation before shorting.