FX:GER30   DAX index of German listed shares
31 4 1
I'm a quite inexperienced trader. So, I can ask the naif questions :)
What I see is the Support line at 1131. It seems, for my inexperienced eyes, to be a strong Support line. It came since 27/2; 3/3; 4/3; 5/5; 6/5; 7/5; 13/5; 14/5. Can't it be that the 1131 level is the dead end of this descending channel?
I'm asking this because many experienced traders do talk about 11200 or 11000 or even lower levels as the possible end of this descending channel.
hachre PRO
2 years ago
It is possible for sure, but this isn't an exact science. You need to have multiple possible support/resistance levels in mind, and their strength basically defines how likely they are to hold. Your green channel bottom line and your red channel top line squeeze the price into a definitive decision soon. It is possible that we won't have a direction decision until then, but whatever will happen at that point will be a break out and ignore closeby resistance / support lines.
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I'm bullish ... and see a breakout of channel very soonhttps://www.tradingview.com/chart/DAX/57egisdl-DAX-Higher-Higher-The-bullish-argument-for-the-daily-chart/
DAX "Higher & Higher" - The bullish argument for the daily chart
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i think u are spot on...just that in my chart, the "line of death" is at 11.335 - but these are zones, not fixed numbers, so we certainly agree.
From line of death i will be eyeing 11.111 - 10.890 - 10.600 - 9000....and so on.
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Rui Pacheco brianhimmelstrupnielsen
2 years ago
I see Brian,

a break-down passing by 11335 as you say can become a very interesting trade...
I'll be ambushed overlooking it!
Thanks a lot
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