DAX has formed an uptrend ascending wedge recently. This is a price action technical pattern that usually leads to a reversal.
The only unknown thing is whether DAX will we have another stab higher into the top of wedge 15600 or will it start reversal down from here to test the uptrend wedge line 14650.
A confirmed break above 15600 will lead to a complete invalidation of the downside reversal. In the case of a reversal lower a break below 14600 will lead to a 13900 retest.
Short-term this is a perfect place to go short with low risk on a trade and a good reward.
You can take the short trade here with the stop loss just above 15600 as we do not see a possibility of an extension higher in this stage and in this market. By placing this trade your RR ratio would be 1.10 which is excellent and if you register for 100k or 500k accounts till tomorrow you will trade without the initial profit target for a first withdrawal so you can easily get to your profit share.
