MaryJane

DAX- have we seen the bottom?

FX:GER30   DAX index of German listed shares
130 0 17
The Index has reached the bottom edge of its midterm uptrend since 11.02.2016. At this niveau some buyers joined in the game and the result is, that the index closed 3 days in a row positive.
The shortterm downtrend (10.470-9.730) is still dominant. The Chart will brighten with Prices above 10.200 (above the maximum correction Level, the 61,8 fibo-retracement @ 10.200) Here is also based the SMA 200 as a longterm buying Trigger. If the market could Close above this SMA , i exspect a further upmove to 10.490.On this way up, several resistance zones appear: The fibo retracements 38,2= 10.000 / 0,5 fibo = 10.110/ 61,8% = 10.200.
Should this Szenario get real we perhaps could see a nice 1-2-3 long-setup these days. The reqirement for this Long Setup is, that the index has to Close sustainable above it s 61,8 fibo @ 10.200 and has to cross the last valid "2".
Alternative Szenario: Stoppsell below the last Low at 9.730 with SL @ 10.000 and TP1=9400 / TP2=8800

For further Information about the 1-2-3 trading-pattern, please have a look at
Introduction into 1-2-3 Trading Pattern
Ideas Scripts Chart
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