FX:GER30   DAX index of German listed shares
852 16 49
H&S? What are your ideas? How do you trade Dax             today?

Comment. was this the final overshooting today which triggeres the bearish wedge?
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Main Analysis:
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.
Dear followers! I Need some comments or other ideas ! I Analyse the market for YOU

Former Analysis:
Little Consolidation ahead?
Little Consolidation ahead?

Dax             is trading near it`s upperedge of the blue counted uptrend. Perhaps at that Level Dax             will make a Little break on it`s main way up to 10.400

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.

Comment: beware of a possible bear trap - dax is very strong theses days, they are buying EVERY dip ... but let`s see - as long Dax < 10.350 the momentum (shortterm) is still bearish (acrtive wedge - possible top-building , possible H&S)
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Comment: Position triggered - Now a tiny Rebound back to the BO-Niveau?
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Comment: Dax kissed the EMA 200! This level is corresponding to the 0,5 fibo - rsi is oversold now - rebound action? 10.250 could be a rebound-niveau (38,2 fibo of the last dip)
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Comment: Potential H&S TPS!
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Comment: Faster than a speedy bullet! Dax reached TP1 = Min. TP H&S
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Comment:
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Comment: trading below todays low will iniitiate the next shortterm downwave
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Comment: It`s time to adjust the SL of the illustrated shortposition ..here i Show 2 alternatives..my preferred sl a bit above the last high or a tactic sl nar the 38,2 fibo.
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Comment:
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Comment: here we go! dax reached the next action point!
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Comment: WOW!! PERFECT! EXACTLY REACHED ILLUSTRATED SHORT-TP- CHEERS!!!
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Comment: will we see the H&S- max-tp-test today ?
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Comment: Cheers - possible sl-adjustement example trade!
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Related Ideas

i have lots of admiration for your hard work on so many pairs at the same time Mary. I have been watching dax for a while now. Thks for your analysis.
Reply
MaryJane lanpham
You are Welcome!!! Thank you very much!!! I give my best :-)
+1 Reply
Good job, Love!
Rebond to 10300?
Reply
MaryJane Krasen
THX -perhaps 10.230
Reply
salarfeen MaryJane
I want to short more as I feel it will go to 10020.

Can you please tell me a good rebound level to short from ?

I am already short from:
10460
10400
10350
10330
10320
10200
Reply
MaryJane salarfeen
wow...whats your strategy? Whats your time-horizon you hold the Position? whats your tp, how is your actual sl? i am not a friend of shorting Rebounds - i am a pure breakout-Trader...
Reply
salarfeen MaryJane
I felt it had topped and would go to 10020.

My tp is 10080

Timeframe upto two weeks. Started shorting last Wed.

SL adjusted to 10360
Reply
MaryJane salarfeen
that sounds great! nearly perfect. 10.080 is a totally realistic tp, but with your open Position (10.343 average entry ) i would prefer closing a part of it, i would not raise the Position again. But that is just my own opinion - in my comment i have shown a possible sl-adjustment how i would make it...but this sl is just good for the intraday scalp, not for a strategical position
Reply
salarfeen MaryJane
Sorry I couldn't answer properly when I was in the meeting.

I will start going long in the 10000 range. I will continuously add. Even if we go into 9900, no issue.

I see it going to 10700-10800 easily.

Do you feel there will be a retracement till 10240/60 (as I want to short more)

Your views would be appreciated.
Reply
perfect!
Reply
excellent, imho DAX is at make or break level on a daily timeframe, if it turns bearish it could go fast to below 8000 in a matter of a few weeks.
Reply
it was perfect!
Reply
MaryJane shomonrobie
THX
Reply
your dax analisys are fantastic
Reply
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