Three setups with a major SELL signal

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Updated: Mar 5, 2018, 13:34 UTC

DAX just created a major sell signal. Reversal after the sell-off from February has finished. The price did not manage to break the 38,2% Fibonacci and

DAX just created a major sell signal. Reversal after the sell-off from February has finished. The price did not manage to break the 38,2% Fibonacci and went lower. We broke the lower line of the wedge and the 23,6% Fibo. The current target is the area around 11900 points – super important long-term support.

As expected, GBPJPY went lower. We broke the lower line of the wedge and horizontal support on the 147.7. That opens us a way to the support of the 139.70. That creates an occasion for 700 pips! Definitely, risk worth taking.

Gold is very close to testing the important support on the 1307 USD/oz. We broke the up trendline and a horizontal support on the 1321 USD/oz. Then the price created a bearish flag, which resulted in a drop. Sellers have all cards in their hands now. Well at least till 1307 USD/oz…

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis

About the Author

Tomasz Wiśniewskicontributor

During his career, Tomasz has held over 400 webinars, live seminars and lectures across Poland. He is also an academic lecturer at Kozminski University. In his previous work, Tomasz initiated live trading programs, where he traded on real accounts, showing his transactions, providing signals and special webinars for his clients.