DAX - turning bullish

FX:GER30   DAX Index
240 0 2
Ichimoku in H4 shows a bearish DAX             since beginning of the year with price evolving under its cloud and a few unsuccessful attempts to break its Kijun (in 1D Ichimoku , we are still in a bear trend). However things are reversing short-term as the price crossed its Kijun on 22th Jan and evolved for a few days in a moderately thin cloud. During this neutral period, the Kijun offered a good support and price just got out of the cloud.

Some things to observe: we have a strong flat SSB             that offers a robust support for a long trend. Moreover the presence of the Kijun just below this SSB             level reenforces the strength of the support cushion. Only worrying thing is the twist that is forming, this could somehow attract the price but if it manages to get out of the area below 9905 this will have less impact.

Regression trend between the lows on 20th and the current price indicates that the last candle on 29th nearly touched the middle axis. We may therefore see a small retracement towards the SSB             . If you look at the lagging span, it has a lot of thick candles under it and the retracement is unlikely to go very far (lagging span hates being near candles). An entry could be foreseen as soon as the Tenkan is broken with a bullish candle or at the next candle.
A more conservative trade from Ichimoku point of view would require the lagging span to go across the cloud, with a likely entry level at 10000.

Objectives are defined by the significant flat levels of the SSB             along the cloud shadow. These levels are likely to be worked out by the PA. Besides technical parameters, keep in mind the BCE "stimulus" and shockwaves propagated by BoJ and FED.

Hope you enjoy, thumbs up if you like.
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