DAX H4 | Bearish breakout

TitleDAX H4 | Bearish breakoutTypeBearish BreakoutPreference:Price is on a downtrend to the pivot point at 16837.37, the pullback support. Price could break the pivot and fall to 1st support at 16646.16, an overlap resistance that aligns closely with 61.8% Fibonacci Projection level.Alternative scenario:The price might bounce off the pivot point and rise to 1st resistance at 16968.38, a multi-swing-high resistanceTo discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.