12-07-2018 Dax Bias: Bearish below 12637

We have been in a bullish reaction wave for some time. The trend defining level for that Bullish reaction wave was 12421 which was pierced yesterday. We are currently trading inside the major fork visible on the 60m chart below. Notice how we were heading towards the lower median line parallel but missed it and have now started a corrective bounce. 

If we were to consider a spot to short, then we expect to find resistance from the bottom of the gap from the other day, or the underside of the fork median line. 

In order to see a complete reversal and watch a new bearish trend form, we need to take out the shaded green area (the second swing back). 

A nice short opportunity came from our premium strategy this morning, this is the entry (chart below). The indicator for this strategy is on the forum for premium members and there are regular video updates for learning how to use it. 

There were a couple of nice examples of interesting price action yesterday. This chart is a 250 tick chart. We saw a simple bearish trending day (lower lows and lower highs). I used an ACR set based on a three-touch multi-pivot line, with a clear action line. I liked how price broke the centre line, then tested it from the underside before shooting down to the reaction line offering another 30-40 points on the move. A beautifully simple technique. I am currently watching how price develops around this fork. Note the two touches on the median line. Also, note how we are currently above the lower median line parallel and testing it from above. If we hold it, then the resistance levels mentioned earlier are in view.