FX:GER30   DAX index of German listed shares
684 3 29
4 months ago
Is this a trendbreak or a bull-trap?
Shorts at the recent Level have a very good CRR! but trading above 10.285 will perhaps iniitiate a new buying wave up to 10.330.
Trading above 10.330 will open the TP 10.440!
Dear followers! I Need some comments or other ideas !
Former view:
Pullback to 10.325 ?
Pullback to 10.325 ?

After Dax             built a Top, the illustrated wedge was triggered. We saw a consolidation which was Long overdue imo.
The latest downswing nearly reached the 38,2 fibo ~(10.100) from the upmove 9300- 10470. This Level (concretly: 10.022) could but need not be a potential turnaround Level (The RSI signs an oversold Situation) - perhaps the consolidation will go further down to the normal or max consolidation Levels fibo 0,5 and 62,8 --> 9884 / 9747. The probability is given as Long Dax             is trading within the illustrated latest shortterm downtrend. If this trend will break, dax0.34% could aim the fibo-Clusters at the upside (10236/10281/10325). Here a desicion has to be made!
As Long Dax             is trading below 10325 i see a temporarily continuation of the current (shortterm) bearish momentum . Prices below 10.022 could accelerate the downswing - a first target would be 9.984 (0,5 fibo)

Former Analysis:
Comment. was this the final overshooting today which triggeres the bearish wedge?
snapshot
Shortterm H&S?
Shortterm H&S?


DAX             reached Action Point!
DAX reached Action Point!

Dax             reached the falling trendline which is valid since 21.04.2016. For me, thats an Action Point where a desicion has to be made. An upcoming consolidation is thinkable at that Level (possible tp on the downside is - as always - the 38,2 fibo) , but not neccesary. The RSI signs further up-potential in the daily Chart - there is still a bullish momentum - every dip was bought these days.
If DAX             could beat the midterm downtrend since April, the BIG Downtrend can be aimed!
Beating this longterm downtrend means a resumption of the maitrend - a Long Lasting bullmarket since 2008.

New midterm-longsignal above 9775
New midterm-longsignal above 9775

red vs. green counting..in my Chart i have illustrated the present resistance and support zones.
If Dax             could overcome the resistance @ 9775 , a shortterm longsignal with tp @ 9.950 appears. The following TP could be 10.350.
Above 10.350-10.450 the midterm downtrend will break - that will generate midterm/longterm Targets @ 11.300/11.750/12.300
Above 12.350 there would be a BIG LONGSIGNAL --> TP 13.700!
If Dax             is trading below the last green "3" respective the last red "2" i exspect a sellof with tp @ 7.250.

4 months ago
Comment: aha
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4 months ago
Comment: Dax reached normal correction Niveau - trading above the fibos will perhaps cause a new buying wave up to the TOP
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4 months ago
Comment: bullish shortterm flag
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4 months ago
Comment: Never fight against a Flag!!! BO in full swing!
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4 months ago
Comment: ok ok ok.....
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4 months ago
Comment: crazy.....
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4 months ago
Comment: crazy market.....
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EASYCHUA99
4 months ago
NOW DAX SHORT OR LONG PLEASE
tHANKS
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andras1229
4 months ago
your aud cad chart looks good
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zen
4 months ago
we have some serious bullish divergence on weekly tf and are right below crucial resistance. dax will hit hard, question is which direction.
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