My stop profit was actived at 10.037 (DAX futures) during this night. For now i am out, waiting where DAX wants to go. May lows is the key for bulls and bears at this moment. Has you see DAX break the ascendant channel. If DAX close below 9.733 a re-test of february is a option.
DAX Look: return to levels of demand
The key short-term support is at 9,900 points.
DAX drop 1,03% which falls at about 14:30 hours of today's session. This has led to the price of our indice to close the gap at 10.057 points. Short-term the trend is bullish (until the price stay inside the channel DAX still in bullish mode) . We do not appreciate any sign of...
If dax breaks the trend line (9500) suggest a sell all the way down to 9000 and below, however more likely scenario it bouncing up the trend line to 10,000+
Germans major share index breaked out last week!
If this week we`ll close above 9600
(above down side trend - since november 2015)
the technical picture would suggest a trend reversal !?
take care
best reghards:
4XSetUps
The DAX30 index is moving in a descending wedge, which is a bearish formation. We can see that the market respects the formation, in which an overshoot of the upper trendline resulteted in an overshoot in the ABCD move (Which then hit the support line). We have a major ABCD move going in bearish direction down to 8350 and combined with the formation, it would be...
Shorting till 0.764 fib level. This area is where consolidation occurs - as shown by the circles on the chart.
Overall trend is still bullish as long as the key pyschological support 10,000 holds. Thus why I am hedging by buying GER30 futures. Stop loss on buy positions 10,179 and 10,000.
Can we expect a collapse of the Europezone?
*As Goldman predicted*
A Monetary divergence
This step is likely to be followed by the Federal Reserve's (Fed) decision in the opposite direction to raise interest rates for the first time in nearly a decade at the December 15-16 meeting,
Just Playing & Guessing Possible scenarios for the hereafter.. 2015 / 2016
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...
As previously warned the ED played out. The bottom TL held and we had a close to 300 point rally from there after the cash closed yesterday.
Today DAX broke out of the upper descending TL, back-tested and held. This looks like a break-out!
If we get another retrace to better test that TL later today that would be gift long, in my opinion.
Good luck out there!
For me tomorrow the key is the 10,275 resistance level which also lays in line with the 61.8% retracement of the high and low from todays session. Above here I expect another test of yesterdays highs. I am long above 10,275 tomorrow.
Simple and Clear as always for you all. LONG ABOVE 10275
