Dax – Inside Bar Break Leads to Massive Move Lower
Yesterday in the daily members commentary, we talked about the inside bar that had formed at the close of the prior session. We discussed how if the index can break 9900, selling from the European open, then 9800 and 9750 was the next likely downside target before basing.
Today the German index opened the European session selling from the beginning, crashing below 9900 in a matter of hours. Those who shorted on the break profited heavily, so congrats to the members who did.
One thing to notice is how after the open and heavy selling, the index formed another inside bar towards the lows, suggesting another break lower was likely. …... Keep reading