Using simple trend lines it's reached the top and now it's time to retrace at the very least and go further perhaps. Up until Draugi speaks in December that is.
The german stock index DAX30 is running out of steam after a 600 point climb in October. Not surprisingly it needs a break, which makes a pullback scenario likely. I don't believe there is enough juice left in the market in order to let the DAX30 break the current horizontal resistance as well as the upper border of the downtrend channel. A short pullback...
Expect that DAX will test again the all time highs until December 2015. I think december FOMC meeting can bring the 1st rate hike since 2006. My opinion bulls will lose control in 2016 and bears will come and bring DAX to 5.500 area (see the red line from the last lows) . SHORT TERM - BULL LONG TERM - BEARISH See chart to understand my view...
Tomorrow we will get news and see if this major resistance are is going to break. Otherwise it could offer short opportunities. Watch it carefully. If we go through, expect at least move close to 11k.
A nice bearish setup has formed here in Dax. Price is in a corrective structure having already formed an abcde pattern. E point has formed where price is testing a long term resistance level ( black trendline ) and a short term resistance ( the upper trnedline of a rising channel, the purpple one in the chart). A nice way to trade this setup is to move to a lower...
The reaction post FED was a bit unexpected, at least for me. All indices ramped up (dax not so much actually) and then reversed with conviction. The big question now is - what's next? Is this choppy 4th wave finally over? A look at the daily provides some clues. The peak of the bounce was just above the 50% Fib retrace, while the decline from there looks like...
As previously warned, once the 1st TL was broken the 2nd one comes up fast. Down trend looks back, but this is still a chop zone, so risk management must be paramount. Choppy 4th waves can chop a lot of accounts. GL to your trades!
This is update I of RSI perspective for the timeframes Weekly and Monthly. I try not to attach too much value to these types of views, as they say little about price and divergence between RSI and price can go on for a long time. Monthly: Monthly has broken the 2009 support and went a lot deeper than i (and probably many others) initially expected. RSI on this...
DAX weekly already begin to build a ascendant channel. A big up move will come in this next leg up. I can make a projection to 16.000 to achieve in the 1st Quarter 2016, many will call me crazy. For me this number (around) can be the Top of this HUGE Bull market.
Due to the insecure overall political situation in Europe, plunging chinese stocks and industrial metals, the testing of the upper channel edge and a relatively oversold market , we may see another breakdown at least to previous structure level of at least 10700. Another support zone at around 10600 marked with the thin green line may also indicate a potential...
Follow our trades boafx.com - sorry a little late posting this one, you can see how the Dax has retested the trend line and now showing rejection, the risk reward is huge so plenty of time to still get in. We are still lokking for a 50% pull back on the long term up trend
There are some reasons to thin DAX may go little up, to 11370 - 11400, and then short - to minimum 11130. 1.618 of fibo ext of last small rejection ends at D of Bat equal overbalances (green boxes) generally bearish trend - aligned to bearish bat close to downchannel top line
Very interesting movement of European indices, where everyone made it out of the minimum of the day, closing positive after the support base (by definition support) of the descending channel that have been negotiating since early April . Thus, we believe that it is time to open long positions in all the European indices and in the case of the German Dax 30, with a...
Just looking at the last leg down and the pull back on the DAX and I noticed the lovely way the Fibonacci levels have been respected. Current at the 38.2 level. What will we see tomorrow, a continuation up to the 61.8 @11500 or thereabouts? Teh 73 level is something I keep in mind for stop hunters.
Please leave me your comment whether you agree or disagree so we can open an discussion or if you like the chart just simply like it. Thank you for your feedback. Rising EURUSD and Bunds yields are not helping DAX to pick up momentum and gather some bullishness. As price recently broke through the support at 11200 next target could easily be 10800 (618 Fib)...
Last attemp to get long near the May low doesn´t work. We get SL at 11.150 Next attemp to get a LONG position will be around 10.800 level, bottom of the descendant channel. DAX still consolidating but DAX still bullish in the medium / Long term, that´s for sure. I think between 1 and 3 months DAX will make new all time highs.
If we break down below 11,150, we'll likely see 10,786 and below on the DAX. It would likely find some initial support at the next order block and 161% fib extension of the recent upswing. Given that Greece decided to bundle its payments to the IMF, the uncertainty around this issue may drive this leg down. Until now, Greece had been all about "talk". Now that...
Even so, and despite the falls at this time exceed 2% for the week it is certain that the weekly candle is not indicative of anything. At the end of the day what lies ahead is simply a bearish backlash that left a very strong support at 11.167 points (minimum of 'hammer' formation) and has since been moving sideways. Stochastic Oscillator remains rotated downward...