On the DE30, price is respecting the non horizontal supports and resistances since many weeks.
So what do we have on this one ?
1. Non horizontal Support: The price is retesting now for a second time our yellow support meaning that we should look only for buy setups on the short term. So let's dive in to see what are our possible opportunities.
2. Double Bottom: Although it hasn't been valid yet, but it's clear that we might have a second rejection around our support so a double bottom pattern would add a lot of confirmation to our decision.
3. MEGAPHONE: A megaphone is an unorthodox pattern but experience has taught us to take it into consideration for it has a very high volatility. Inside a megaphone, which is similar to a divergent wedge, the more the price moves, the bigger the volatility becomes. This also backed by fundamentals as we have seen some positive results on the German economy (unemployment rate), which boosts the DE30 because a better than expected results has a good impact on the industry. Now a megaphone is created by these events followed by corrections, which usually are smaller than the impulse.
Need more details, you just have to contact us, Trade Safe
So what do we have on this one ?
1. Non horizontal Support: The price is retesting now for a second time our yellow support meaning that we should look only for buy setups on the short term. So let's dive in to see what are our possible opportunities.
2. Double Bottom: Although it hasn't been valid yet, but it's clear that we might have a second rejection around our support so a double bottom pattern would add a lot of confirmation to our decision.
3. MEGAPHONE: A megaphone is an unorthodox pattern but experience has taught us to take it into consideration for it has a very high volatility. Inside a megaphone, which is similar to a divergent wedge, the more the price moves, the bigger the volatility becomes. This also backed by fundamentals as we have seen some positive results on the German economy (unemployment rate), which boosts the DE30 because a better than expected results has a good impact on the industry. Now a megaphone is created by these events followed by corrections, which usually are smaller than the impulse.
Need more details, you just have to contact us, Trade Safe