Thyssenkrupp AG (TKA - DAX) - sell for 5th wave down

Apr 25, 2020

Thyssenkrupp AG (TKA - DAX) is in downtrend. The 5th wave down shown in chart is in progress. Sell below 5.34 after breaking down that level with stops above 5.75 for new low as target. It is much under-performer to DAX index.

May 10, 2020

Trade closed: stop reached

May 10, 2020

Note

4th wave completed where stops taken out. and then start going down as expected. It calls for new entry.

Jun 6, 2020

Note

The structure turned out to be a ABC rather than throught of impulse.

What I learn:
1). Always have a bigger time frame clear count before any trading.
2). Market direction is more important in trading.