Deutsche Bank: Sell the bounce?

You think you have seen the bull side of Gold? guess again….
March 7, 2017
Προσπάθεια διάσπασης
March 9, 2017

A textbook bearish formation has been spotted in Deutsche Bank (traded in Xetra Germany) according to Elliott waves. A 5 wave decline has been seen and together with a price break below my automated indicator, I expect a bounce towards 18.30-18.50€ to go short and use the highs as stop.

The minimum expectation is for another 5 wave decline towards 16€ if not a larger scale bearish reversal. I will be looking to sell DBK with a stop at the recent highs. Thank you for taking the time to catch up on my thinking.

Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.