You don't know until it turns around and goves some kind of sell signals. At moment the case is we have to assume it stays counter trend bullish, even if we see some pull backs.
Daily: a really wide bearish channel is forming, but as I once wrote it can look sometimes rather bullish and other times mega bearish withing this channel. Right now Priced reached a very important key level. It managed to close above Kijun Sen, but trades exactly at 9122 level of Future Kumo top (Senkou B line). Slow Stoch is overbought, we may see some pull back 8985 - 9005 area maybe, but as Tenkan and Senkou A lines started to point up, I think DAX has more chance to catch up and probably reach 9400-9470 key resistance.
4 Hrs: Finally broke above 100 WMA and Kumo, and printed a higher high. This time frame is bullish now. Tenkan above Kijun, both above Kumo, Chikou is above Price and in open space, Future Kumo points up. DMI is bullish too, with ADX back above 20. Every pull back is a buying opportunity, until Price stays above kex supports, mainly above Kijun Sen.
1 Hr: Without any doubts it is bullish trending. The reason I put on this time frame is to show more precisely the important lower key levels. These are: 9000-9020 and 8850.
One more swing signal here: Slow Stoch turning lower with DI+ crossing below ADX line. This means we may see some pull back from this small over extension, probably down to Kijun and trend support 9025-9050. But until Ichimoku tells us the opposite, it is a "Buy on dips".
Daily: a really wide bearish channel is forming, but as I once wrote it can look sometimes rather bullish and other times mega bearish withing this channel. Right now Priced reached a very important key level. It managed to close above Kijun Sen, but trades exactly at 9122 level of Future Kumo top (Senkou B line). Slow Stoch is overbought, we may see some pull back 8985 - 9005 area maybe, but as Tenkan and Senkou A lines started to point up, I think DAX has more chance to catch up and probably reach 9400-9470 key resistance.
4 Hrs: Finally broke above 100 WMA and Kumo, and printed a higher high. This time frame is bullish now. Tenkan above Kijun, both above Kumo, Chikou is above Price and in open space, Future Kumo points up. DMI is bullish too, with ADX back above 20. Every pull back is a buying opportunity, until Price stays above kex supports, mainly above Kijun Sen.
1 Hr: Without any doubts it is bullish trending. The reason I put on this time frame is to show more precisely the important lower key levels. These are: 9000-9020 and 8850.
One more swing signal here: Slow Stoch turning lower with DI+ crossing below ADX line. This means we may see some pull back from this small over extension, probably down to Kijun and trend support 9025-9050. But until Ichimoku tells us the opposite, it is a "Buy on dips".
