Phenlx
Long

5 Forces confluence zone currently in DAX, good entry for Long?

FX:GER30   DAX Index
284 0 8
Last week was a bearish cycle for GER30             . Snapshotting current situation we do see a all in all bearish market.
If we have a deeper look into the chart we might have two scenarios.
1. Trend follower perspective: The last high (A) was only a retracment of leg 1X. In this context market is attacking last Low (X).
2. Count trend perspective: Market is only retracing lat swing XA and will soon attack point C again.

Both perspectives have one common fact. CD has already processed quite far. Hence we might expect a rebound. For this I looked for a Potential Reversal Zone (PRZ). For me a Potential Reversal Zone is a Zone where I can find a lot of confluence. For the GER30             we find 5 bigger forces which are defining a PRZ between 9470 - 9755.

Important: :-)
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Please remind yourself that this is just my personal view on the market and you always should do your own analysis before trading. My Analysis should not serve as any recommendation to buy or to sell. My analysis are just my ideas and opinion how market could develop.
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