Dear traders and followers,
the Deutsche Bank price reached an 5 month high and is likely to go into correction before the next up wave starts.
RSI and MACD indicator on 12 hour chart are both near trend reversal. A final bull trap for short seller liquidation is still possible. Enter at the top of the sell area and not at the bottom. The price reached a long term down trend line which acts as resistance as well.
Take profit at 38.2 Fibonacci retracement area which could be a nice long term buy entry.
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the Deutsche Bank price reached an 5 month high and is likely to go into correction before the next up wave starts.
RSI and MACD indicator on 12 hour chart are both near trend reversal. A final bull trap for short seller liquidation is still possible. Enter at the top of the sell area and not at the bottom. The price reached a long term down trend line which acts as resistance as well.
Take profit at 38.2 Fibonacci retracement area which could be a nice long term buy entry.
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Follow us and stay up to date/ don't miss new ideas
Thanks for your support !
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The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
