Short DAX at 7740

I think they will walk it up to bring down together with ES, 4 hour chart still not looking as it ought to even though 50% retrace been reached and bounced off.

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Quote from JSSPMK:

ImO, considering how charts look (1-4 hour) I would be skeptical to play it long, if we were to hit a very important support zone, then price should have put in either a hammer or a solid engulfing bar on say 4 hour chart, also histogram just doesn't look bullish on any of the frames that would indicate a dip. I mean a dip it might be, I am just not ready to lay it out, unless I see something worthwhile.

Assuming the above I would also assume that other savvy traders are not willing to buy right now, it's upto big players to hold support and I do not see it happening. It's either bounces strongly and I miss initial move up OR there HAS to be a build up on 1-4 hour chart, which I don't see.

So again assuming all above is logical I would rather play it from short side for now.

Also 20 average slope on 1 & 2 hour charts is just way too radical even for me :)
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50% zone seems to be a good buying point providing lower frame charts concur putting in a buying pattern, most likely a divergence will occur on 4 hour and 2 hour charts.

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