DAX | > 11.8 bullish | < 11.8 bearish

What do we see:

• Two weeks ago, we refused the 12.9k (above we would have moved into the trumpet-pattern of 11.2019/02.2020; see published idea from 02.2020).
  
• Last week we refused to move above 12.5k (which served as an resistance in 2017).
  
  What is my interpretation:
  
  I wouldn't be surprised if we test next week the 12k and the 11.8k again.
  
  
• If 12k/11.8k serves as a support, we could see another rally towards 12.5/12.9k. If we then break above - even though i don't like it - we could make an new ATH around 14.3k.
  
• If 12k/11.8k does not hold, target would be 11.2k and 10.8k.
  

Overall, I see a lot of trading opportunities. Nevertheless, right now I am flat and I am really curious about what is going to happen around 11.8k - 12k.

Comment:

First threshold if it does not hold, we will see next 11.8k

Comment:

Comment:

It seems that we are forming a falling triangle (which is not confirmed yet).

We have now a new line (orange line) while the dotted line (DAX rally mode) became invalid.

We saw a first support/bounce around 11.950. Bulls want to hold the 11.800.

If we successfully test again the 11.800 we might see again rally toward 12.350.

If we break above the orange line, it would lead us again to 12.750.

If 11.800 wouldn't hold, targets to the downside would be 11.200/ 10.800.

Comment:

In the meantime the EMA 200 daily is around 11.840 and the EMA 200 4h is around, if it holds, it would be a good opportunity to move long. It is important to wait for confirmation, because below we would see 11.2k and 10.8k.

Comment:

Comment:

Prepare for breakout. First target 12.5k and second target 12.8.

Trade active

Trade closed: target reached:

TP1 and TP2 have been hit.