DAX is staging a rebound coming close to the 4hour MA50 yesterday (has been untouched since January 4th). This is the normal technical reaction we expected on such an important Support Cluster (as the dotted line from the October 2nd bottom was also there) and was a short-term buy. Maintain a tight SL though as a cross under it renders the price extremely bearish...
DAX is inside a long term Channel Up pattern. The price volatility in 2023 can be seen as a mini Rising Wedge on a Rising Support. A similar Wedge was at the start of the Channel Up. When it broke, the MA50 1D got hit. Trading Plan: 1. Buy on the Rising Support and Fibonacci 0.5 2. Buy on the MA50 1D if the Rising Support breaks. Targets: 1. 15600 (under...
Nice illustration of DAX's sideways trading since the start of February. The Fibonacci levels help at finding the low risk/ high reward trades. And those are to sell on Fibonacci 0.786 and buy on Fibonacci 0.236. The RSI is on a similar range. Do this enough times to grow your profit until the pattern breaks. Follow us, like the idea and leave a comment below!!
DAX is trading on a Bullish Megaphone inside a five month Rising Wedge. The 1D time frame is in green (RSI = 60.102, MACD = 197.500, ADX = 27.090) but the 1D RSI has been sideways at best (if now on LH) for as long as the Bullish Megaphone trades, which is a bearish divergence. This is similar to the RSI formatio of the last Wedge High on Dec 13th after which a...
DAX is trading inside a Channel Up on bullish technicals both for 4H (RSI = 58.830 , MACD = 35.400, ADX = 33.092) and 1D (RSI = 65.538, MACD = 212.600, ADX = 27.945). 1D is stronger as its pattern is a Bullish Megaphone for the past 1 month. Basically we are now expanding on the breakout signal given on Monday as shown below. The Channel Up rises on every...
DAX trading pattern for the past 30 days has been a Bullish Megaphone. Throughout this whole pattern, the 4H RSI is having a clear Support to buy and a clear Resistance to sell. With 4H technicals neutral (RSI = 52.897, MACD = -5.800, ADX = 26.094) we have no option but to use breakout trading to limit the risk. The current pattern appears to be following the one...
I told you guys yesterday that they would sell off the entire CPI pump and dump, and they did causing futures to go red. You can see the bounce, but there's also more room to the downside. Could just be a whipsaw morning. No idea which way it goes Monday.
FDAX RSI hit overbought with RSI divergence. They did the pump and dump on CPI numbers, 0.5% m/m inflation is NOT good news. MFI oversold on US indices, so expecting a whipsaw day, I expect Europe to go down tomorrow, so I don't recommend holding a long position overnight. Every time there's a divergence in indicators between Europe and US, we get a whipsaw so...
DAX is rebounding after holding the 4H MA50 (blue trend-line) and remains overbought on daily. The similarities with the November - December fractal evident and the 1D MA50 (red trend-line) untested since January 03, we expect a sharp short-term correction to it, if the 4H MA50 breaks again. The long-term pattern remains a Channel Up since the October 02 market...
Indicators are neutral but trending up. I guess this afternoon rally is an attempt to set up for a pump and dump tomorrow. No reason to rally on Powell, TLT is red and bond yields are up for basically every time frame. The algos still need to make their money, I guess. My assumption was whipsaw until CPI next week anyways.
MFI overbought heading into next week. Possible gap down Monday for the US market. Don't really recommend holding a long position over the weekend in this whacked up market anyways, lol. Powell speaks Tues premarket, no idea if he pumps or tanks the market. Stupid people are hard to predict.
If the other half of dumb (Powell) and dumber (ECB) does the same thing tomorrow morning then we're looking at new ATH for FDAX. It'll be tough to short anything for a while. Pay attention to what FDAX does premarket because you know they dictate the morning gaps, though probably not tomorrow due to META earnings.
DAX turned overbought on the 1D time frame (RSI = 72.776, MACD = 187.300, ADX = 43.679) as investor euphoria spread across the stock markets on a dovish Powell, and the current 4H candle broke above the short term Channel Up. If it closes back inside the Channel Up, we will regard this a sell signal aiming at a -2.30% decline (TP = 15,100). On the contrary, if...
The German stock index DAX broke today (and so far stays ahead of the Fed) above the 4H MA50 (blue trend-line). On our last analysis two weeks ago, we pointed out that a Channel Up similar to November's would form and its break-out will deliver the next move: As you see, the price traded exactly within that short-term Channel Up and delivered excellent...
FDAX has just been whipsawing lately, no indication of gap direction for tomorrow. HSI hit oversold on my 3 hr though so the Asians probably follow through on this pump.
Indicators neutral but trending up. Not really sure about gap direction for tomorrow, but US market appears to be melting up
ES1! RSI bounced off the oversold condition, but FDAX is not oversold yet. Good chance that it goes down to the old support line before bouncing. Good chance that tomorrow winds up being a whipsaw day if it plays out like the way I expect it to.
Title: DAX Futures ( FDAX1! ), Daily Potential for Bullish continuation Type: Bullish continuation Resistance: 16274 Pivot: 13943 Support: 11829 Preferred case: Looking at the Daily chart, my overall bias for FDAX1! is bullish due to the current price crossing above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price...