Following our most recent DAX update, the price did eventually yield to its signs of exhaustion and pulled-back: The pull-back extended as low as the 1D MA50 (blue trend-line) yesterday where it found support and is rebounding today. This could be a short-term buy signal again, the technical overlay was explained on the previous update. As you see this is...
I've been bullish on DAX for a very long time as the Rising Wedge and Channel Up patterns prompted to Higher Highs ever since April 2021: However, the German index seems to be forming a pattern that based also on the 1D CCI, was previously seen just before market tops (i.e. Higher Highs on the pattern). As this 1D chart shows, the price just entered the CCI...
DAX appears to have completed the short-term profit taking pattern as presented last week on the following analysis: The 1D MA200 held and the index can now resume the uptrend towards the top of the long-term Channel Up. On today's analysis I shift focus to the 4H time-frame where the 4H MA50 (blue trend-line) and the 4H MA100 (green trend-line) are close to...
Last week DAX gave the most optimal buy entry on the bottom (Higher Lows trend-line) of the long-term Channel Up as I presented on my most recent analysis: The price hit 15840 on a strong rebound, the strongest 2 days of the year. Yesterday the price started to pull-back but shouldn't be alarming as the very same -1.30% correction took place on October 18,...
Pattern: Channel Up on the 1D time-frame Signal: Buy as the price hit and held the Higher Lows (bottom) trend-line of the Channel, while hitting the 1W MA50 (red trend-line) for the first time since November 2020. Also the CCI bounced off its multi-month Support Zone. Target: 16500 (just below the 1.236 Fibonacci...
DAX rebounded today exactly at the bottom (Higher Lows) trend-line of its October Channel Up (blue) mainly due to the bettern than expected E.U. and German PMI data. If this effect is short-lived and the Channel breaks to the downside (quite likely as the MACD just formed a Bearish Cross on the 1D time-frame), look for the 1D MA50 (blue trend-line) for the next...
Two weeks ago, the consolidation on the 1D MA50 (blue trend-line), gave a clear buy extension signal on DAX: The 16000 Target has been hit and the index is consolidating around its 16030 former Resistance and ATH for 5 straight 1D candles. This is a sign of technical exhaustion of the dominant trend which is bullish, so if the Channel Up breaks its Higher...
My last DAX analysis was on a bus signal after the price broke above the 4H MA50: The short-term target of the 4H MA200 eventually got reached and now I shift my focus for the medium-term back to the 1D time-frame. As you see the price has been trading around the 1D MA50 (blue trend-line) for a week. The very same consolidation pattern around the 1D MA50 was...
Pattern: Channel Up on 4H. Signal: Buy as the price broke above the 4H MA50. Target: 15500 (just below the 4H MA200). -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...
DAX hit today the 1D MA200 (orange trend-line) for the first time since November 04 2020, which was the period of the U.S. elections. That was at the start of a very aggressive end-of-the-year rally. Right now the index is rebounding after having made a Double Bottom just below the 15040 Support. If we also consider the July 19 Low, then this can be treated as a...
DAX is rebounding after approaching two key pressure levels: the 1D MA200 (orange trend-line) and the 15040 Support (1). Last time the price rebounded on the level, it topped at 16,030 (current Resistance) after consolidated within a mini Bull Flag around the 1D MA50 (blue trend-line). The Flag signal is the MACD Bullish Cross so keep an eye. The medium-term...
Pattern: Channel Up on 1D. Signal: Buy as the CCI entered the Buy Zone and the price is near the Higher Lows (bottom) trend-line of the Channel Up. Target: 16200 (just below the 1.382 Fibonacci extension). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...
DAX is ahead of critical crossroads as the long-term Channel Up (blue) that was formed after the November 2020 U.S. elections is on its last leg (d) before the aggressive rally that last time (March-April) led to leg (e). If this pattern is not repeated, then there is a new Channel Up (orange) that may continue this uptrend but in a more controlled, less...
The DAX is still indecisive whether to take the alternative route with a probability of 43% and push through the resistance at 15806 points or to take the long road around the mark at 15279 points. We primarily expect that the latter is the case and that the course will make a huge turnaround at the 15279 point mark. After that, the stage is set for a lasting...
This is a fractal comparison for DAX on the 1W time-frame. As shown on the chart, the Channel Up since the October 2020 low has many similarities with the Channel Up since the June 2016 low. They both started after a recovery of the price below the 1W MA50 (blue trend-line) and continued posting Higher Highs for as long as the 1W MA50 was supporting. In 2017 the...
Pattern: Channel Up on 1D. Signal: Buy as long as the 1D MA50 holds or if the Channel Up breaks upwards. The pattern resembles the Nov 2020 - March 2021 Channel. Target: 16500 (the 2.0 Fibonacci extension). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...
Pattern: Channel Up on 4H. Signal: Buy as the price is re-testing the 4H MA200 (orange trend-line) on a potential Double Bottom similar to late February. Target: 16300 (just below the 2.0 Fibonacci extension level). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...
Since the last two months, the Germany index was trading inside the Inner Range 15130-15330 together with the outer range 14800-15550 by making stop hunt higher highs and lows many times . Last days we saw some strong upside push towards the 15670 handle indicating a possible break out of the ascending triangle like formation eyeing for 15820 and 16000...