Trading idea – Short DAX – Stage set for a pullback
- Stock market crash at high volume in China (down 35% only since summer)
- Several fundamental risk elements upcoming – FED FOMC (Nov 2nd), mid term election in the US (Nov 8th) and US inflation (Nov 10th), unlikely to tempt investors to add risk at present.
LEVELS: Target a pullback from 61.8% fib to 50% fib and September POC
KEY RISKS: Stop at 13,370-13,492 range
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