Long after Double Bottom at Weekly Support Level.
SL: A few pips above Double Bottom.
TP: Next High if we see a strong rection there. If not -> let it run. Close trade when we get a Daily Close under Daily EMA5.
DAX 30min, BEAR DVG, maybe down to break-up-level 122260 ?
It's a strong uptrend, but will this DVG, change to some down again ?
This is maybe not a higly good R/R ? , but will watch those next candles, look for more signs.
Based on Elliott analysis, we might be close to the end of the multi-year bullish cycle. If the count is correct, soon we could see the beginning of an abc bearish cycle.
Hi all,
first a longer term look to understand the big picture.
On a weekly chart, very bullish bias, retrace respect 0.886 fibo extension,
DAX like to respect this level ...
i will expect a bear party soon, before the bulls will take over.
for a short entry watch the 12000 area might be sooner then later.
I will update the chart on a weekly basis
BULL dvg in MOM , RSI & MACD in 60min chart, often be a bullish sign.
BUT it's obviose a HS topformation, so here we have to be careful,
and watch careful for bearish sign's again, and if it turn down again....
This could also be used for a new better short-position again,
if that should appear :)
If it stay's over 650-700, that could also be even a stronger ...
Now I `m in Long (target 11310-11343).
A possible rebound from the upper border of the channel.
I go into a short deal GER30 on the rebound.
Potential targets on the chart.
Stop on the upper border of the channel (zone 11400-11440).
I will comment on the idea, as events unfold.
Thank you for your attention.
