A head and shoulders pattern is now complete on the DAX

Date of issue: 26/09/2018

German DAX

We are seeing a complete looking head and shoulders pattern on the daily chart of the German DAX index. This type of a pattern indicates a bearish move, and with the trade wars issues that keep reoccurring and the bad German economic data that has recently come out of the German economy, we expect a large sell off to occur on German stocks, which will bring down the German index lower. Our Swing trade for the Dax is as follows:

Sell Trade (at Market price)
TP 10402
SL 12846

The risk of loss in trading foreign exchange (forex) can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. The high degree of leverage that is often obtainable in forex trading can work against you as well for you. The use of leverage can lead to large losses as well as gains. Forex trading offers large potential rewards, but also large potential risk. You must be aware of the risk and be willing to accept them in order to invest in the Forex market. Don`t trade with money you cannot afford to lose.

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