After reaching my 11500 target, the German index had a false break under support and reversed.
Now is trading exactly in resistance (12500) which is also the neck-line support of H&S.
A new leg down is probable from this point and also we can have a great R:R if the index is retesting 11500 zone
Very volatile last 48 hours because of US elections. US indices rose massively and DAX followed.
Fundamental is stronger than technical but now we will gradually see technical analysis take over again.
Find on our chart the next resistance level and remember to trade carefully these days.
FIRST~: PLEASE CHECK YESTERDAY'S IDEA
So, the chart never lies: the resistance level we had calculated acted perfectly , as the price dropped as soon as it was checked.
Our stop loss is now at entry point and we are expecting to see (hopefully) the drop further down.
Most importantly: DO YOU HAVE A TRADING STRATEGY?
Drawing a chart is part of the success but...
My 11500 target was hit and now the German index is consolidating just above this support.
A correction from this point is not out of the question but with EU imminent lockdown I expect this to be short-lived and a new leg down is just around the corner.
12k zone is a great place to sell Dax30 and a target of 10k for swing traders is very probable
Since the beginning of July, Dax30 is consolidating(distribution in my opinion) in a timid H&S (timid because you can barely distinguish the head from the shoulders)
Now the price is at neck-line support and in case of a break the next target is 11500
Look to sell rallies or sell the break
Although accounting for a ~+2% currency advantage over US indexes and for an annual +5%-6% equity (stocks) advantage over US stocks, in general,
all that means is that the DAX will sink somewhat slower/less than it's US counterparts. E.g. one should sell this - SHORT -, freely here, as well.
The uptrend trendline needs to be definitively broken to consider a long-time short entry.
Retest could be on 128500 Area.
Otherwise (the most valuable scenario), the price will touch 13300 area again.
We will short it.
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Trading Kitchen
Unlike American Indices, Dax did not made a new high on this previous leg of euphoria, and from June, the rise is forming a rising wedge.
This should be a signal for bulls that the optimism will come to an end soon and at least a correction is near.
I would pay attention to price action under 13k zone and be prepared for a medium-term sell trade
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Hello traders, here is the analysis from our team :
we like the 12880 be taken out first.
then buy up.
buy up : 12880
tp#1 12883
tp#2 12885
tp#3 12893
stop: 12867
Let us know in the comment section below if you have any questions.😉
Hello traders, here is the analysis from our team :
our buy: 12981
our target: 13100
our stop: 12862
Note* We will start to look at 1300 on to take profit with money management.
Let us know in the comment section below if you have any questions.😉
our buy: 12981
our target: 13100
our stop: 12862
Hello to all watching my charts,
Here my view of the German DAX
Still Long but Long in Risk , cause Support Line RED Must hold
at the end of 30 MIN Turns. Watch out.
Good trades.
If you want to support my work, please like them
My analyes here are all NOT a request to buy or sell
seomething. Allways do you own research.
Renkotrade
The index broke the short-term rising channel, with the rise of the second wave sounds in Europe. Although countries do not want to close their economies, this risk seems to exist for investors.
In this case, in the positive scenarios for the index, the pre-pandemic peak may be the bullish target, whereas, in the fall, it can return to the fib 0,618 level it...
