#GER30 #DAX #DAXINDEX #Trading Outlook; where are we heading to?
Dax has opened on monday morning with a expected pullback Move, but how far will it retrace or will it go sideways?
Daily stoch and daily RSI are telling us since many days that past uprun is running into exhaustion as the oscillators are turning down starting to leave high levels.
We have major key levels that we can easily watch and manage our Risk From without being attached to any economic bias.
On a makro view a possible bullish perspective key level to watch is the major lower trendline. A Break of it would give first insights that makro upward trajectory is totally broken.
But until this happen Dax Index has given us in the past many opportunities to play Fibonacci Retracements to the Upside.
The current Dax Posture tells us not to blindly short the Market it is rather telling us to derisk Any Long Trades and lock in Profits which you might gained during this Year and derisk your Stocks (especially DAX Participants).
Also What gives the Dax a higher probability to go Sideways or decline with a slow pace is that many Dax Stocks have already had their major declines over the past weeks and Months and playing some kind of bounces trying to find buyers but according to current Dax Posture I also would not say that we will not see some lower major german stock prices.
Anyway shorting with prices trading with a rather narrow range to the daily 200EMA and daily 200SMA is not the Trade i am personally looking for.
If you are asking yourself which Fibonacci Retracement Level will be the best to manage your Risk of i can tell you following.
Looking at the daily RSI we are nowhere near any long entries on DAX and personally i am not allocating any eurocent to German Companies at this high Oszillator Levels.
Looking at the past i want to the RSI go back to 0.618 or 0.786 Levels which would go in confluence with chart prices and chart Fibonacci levels around 0.382, 0.5 or even as low as 0.618.
Choose your entries wisely and trade safe!
Daily stoch and daily RSI are telling us since many days that past uprun is running into exhaustion as the oscillators are turning down starting to leave high levels.
We have major key levels that we can easily watch and manage our Risk From without being attached to any economic bias.
On a makro view a possible bullish perspective key level to watch is the major lower trendline. A Break of it would give first insights that makro upward trajectory is totally broken.
But until this happen Dax Index has given us in the past many opportunities to play Fibonacci Retracements to the Upside.
The current Dax Posture tells us not to blindly short the Market it is rather telling us to derisk Any Long Trades and lock in Profits which you might gained during this Year and derisk your Stocks (especially DAX Participants).
Also What gives the Dax a higher probability to go Sideways or decline with a slow pace is that many Dax Stocks have already had their major declines over the past weeks and Months and playing some kind of bounces trying to find buyers but according to current Dax Posture I also would not say that we will not see some lower major german stock prices.
Anyway shorting with prices trading with a rather narrow range to the daily 200EMA and daily 200SMA is not the Trade i am personally looking for.
If you are asking yourself which Fibonacci Retracement Level will be the best to manage your Risk of i can tell you following.
Looking at the daily RSI we are nowhere near any long entries on DAX and personally i am not allocating any eurocent to German Companies at this high Oszillator Levels.
Looking at the past i want to the RSI go back to 0.618 or 0.786 Levels which would go in confluence with chart prices and chart Fibonacci levels around 0.382, 0.5 or even as low as 0.618.
Choose your entries wisely and trade safe!
