Short Chance?

FX:GER30   DAX Index
685 3 29
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 ?

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?
Shortterm H&S?

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

red vs. green 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.

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