The idea is look for buys when touch the lines.
the yellow line is the crucial point of this idea. Pay attention in it. If this line is broken, we will watch the white line.
The bulls have managed to break up the descending channel and after a few days of consolidation, the uptrend is set to continue.
I favor going long at these levels, targeting 11400 and 12400 levels in coming months.
Good luck,
Ali Sharifazadeh, CFTe
Here aug-sept...60min.... maybe a downchannel (yellow). But also an alternative-channel (red-lines by the arrows)....some more rom to the roof there, 650.
Above todays high, 600-700... there's a zone for to be ready for a posible breakout upward...
If not, then low in the channel should be a target for the downside.....
MACD is a kind bullish, untill it cross...
If you follow xetra you know insitutionals turned BULLISH this week. That means they are looking to buy, but current price is too expensive. The dip we saw at 10250 is in a demand zone 10260-10212. DAX failed tho break through the demand zone and thus remains bullish. I am long from 10252 with a target of 10600 atleast. On monday we are looking to fill the volume...
It was a pain trading the DAX all of last week. Several candles indicated tactical bounces off important breakout supports around 10470 - 490, however the index failed to distance itself from key supports, decisively. Friday ended the week with a bullish engulfing pattern. Bigger picture, we are looking at a descending triangle pattern, which I expect to resolve...
