DAX finally peaked this week. 11000 here we go

INDEX:DAX   DAX Stock Index
517 13 9
My last try this week (3 days ago) was way too early. This time there is a potential top and enough bulls to get smashed after a very overextended upwards streak for several days.

Entry: 11545
Stop Loss: 11650
Target: 10900
Great job man!
+2 Reply
and the outcome
i am not good at all on EW counts and fibo
yet another method to detect euphoria is by using channel (when done correctly)
it can get very near to the top

using smaller channel
Nice work. And a great call. Kudos!
ChartArt jangseohee
Very good chart! This is exactly what I had in my mind when I posted my chart.

A logical move back down to support and then a breakout to the upside in the coming week.
Unless this turns even more ugly due to very bearish black swan event news next Tuesday (or Wednesday).
jangseohee ChartArt
yes you are right.. the yellow critical support zone
sorry, here is the correct Chart
+1 Reply
Perfect Analysis! TOP! Here is my similar view thx for sharing..i have nearly the same view: The Dax pullback stopped at his 61,8 fibo-retracement. The Index could not break this Level.
Yesterday we have seen a very weak tradingday with the result, that the shortterm-uptrend broke.
A new 1-2-3 appears (red counting). what means that a Test of the former LOW @ 11.000 should be exspected. The Chart turns bullish again only with Prices above 11.665 ("3") respective 11.820 ("1").
SHould the market reach the Level of the former LOW @ 11.000 where the EMA & SMA 200 are based i exspect a new up-wave with new Highs at the Level of my "target autumn Rally"
Trading below the last valid orange "3" @ 1.0645 should initiate a fast selloff

Green/Grey arrows: exspected way
Grey: Alternative way

For further Information about my countings have a look @

former Analysis:

The Traders dream became true! The pullback stopped @ the 61,8 fibo. Since we have seen the Low @ 11.040 the market decided to go up further. Now we have resached zthe max. pullback Level, the 61,8 fibo from the way down 11.750-11.040. This Level could be a possibleTurnaround Niveau.

Bearish Szenario: Should the ultrashortterm trend be hurt (Grey arrow) we possible will see a dip to the former LOW @ 11.040. Will the market fall below this Level, the next target would be the LOW @ 10.650. On that way down are based the EMA and SMA 200. They should be a strong Support! If we trade below the last orange "3", i exspect a fast selloff-move.
Bullish szenario: If the index is strong enough to take the last green "2" out of the market, my autumn Rally target can be aimed.
Hybrid Szenario: The market can dip to ist EMA and SMA 200 without hurting any trand or bullish Szenario. Should the market dip to the MA`s i exspect a BIG UP MOVE

Will the pullback stop @ 61,8 fibo?
Will the pullback stop @ 61,8 fibo - the maximal correction level? This would be a traders dream :-)
All Tradingsessions above its 200 sma/ema seem to be bullish anymore.
The range between 10.600-11.060 is neutral
A sustainable close below the ema/sma 200 are selling signals, prices below the last LOW @ 10.600 can generate a selloff
+1 Reply
ChartArt marihuana-aktien
Thank you for sharing your detailed analysis. As I just commented below to jangseohee, I still think we can go higher next week. That would be your idea "Should the market dip to the MA`s I expect a BIG UP MOVE".
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