DAX has been on an upward rally for the past few months and has now come to an end. With fundamentals and technical analysis we can clearly see where DAX is now headed, DAX last week managed to break an important level of support with the Trade War and now the Mexican tariffs being imposed by Trump, the market is now on a downtrend potential, with nothing...
Running two shorts atm - 12079 and 11919
After yesterday almost flat range (kinda) of the DAX, I opened an extra short on top of my 12079 -
Opened one literally 2 mins before Trump was tweeting , but even without that I was looking too short.
Due to the news, it is hard to find the bottom at the moment. so my sentiment stays bearish - and a possible drive through...
Taking shorts on Dax on mentioned arrow. I still have one short open from 12079, might long in-between.
I prefer to see 11833 or lower to take a big long.
Bearish momentum continued yet for another day in a row. After the open, Dax took a south direction and the price reached the support level of 11 861 without any problem. This level was retested a couple of times before the price eventually closed there. Yesterday’s price action took us to the low formed on 01 April.
Important zones
Resistance: 11 986, 12...
A red channel is descending, the trend is completely downward, you can see that the Dax stopped precisely with resistance. Later, it returned to resistance in a short time and again it did not succeed. Now the sellers are taking over.
Entry price: 11980
Stop loss: 12250
Take profit: 11630
We can see that on the weekly chart we are still at the beginning of the decline on the Dax in the Stochastic, the weekly trend is a downward trend, after each decline the Dax returns to the rise but each time lower than the previous time.
We continue to recommend a sell signal.
Entry Price: 11960
Stop Loss: 12400
Take profit: 11200
Now that the DAX has reached the target we can expact it to come down to the support of the upward channel before it will break higher. let's see what happens in the next few days.
As DAX now crossed the DC 11 channel (Donchian Channel 11)
i suggest to be custious on the long positions and for me
it seems to be best for long positions to close at 15:00 german time
In addition Dax has fallen under the red EMA which is in system trading a long close signal
At the moment it not a position to switch in short.
We have to wait what happens...
Exact as promissed the decision point has been at
11960.
After fall through that level Dax tried to climb again
on new highs, but failed and builded a double top
as double resistance at
11980 (blue line)
Than small supports at
11930 and also at
11890 failed.
Nex bigger support waits at
11760
Thats the best chance for a rebound in my oppionion.
We...
Dax 15:00 german time at the decision point
Smaller support have been broken right now at 11975
Please check there the upper red line
But the bigger support at 11960 holds at the moment.
If these 11960 line will brake at end of 1HR Chart
(16.00/17.00 or tomorrow)
We should sell long positions and go short.
If the support will hold LONG is to stay
Good trades
Hello to all who watch a charts.
Dax is still LONG, I think that's clear
But what can we expect for the next trading days ?
As you can see I have now drawn 2 support lines in red below these Dax
should not fall for further long positions.
That's the first at 11974 (ca) and the second at 11963 (ca) so we say :
A range from 11960 to 11980 is our support zone...
