Breakout is confirmed in my opinion and now I'm long.
First target 13,800.
First goal is to get SL @entrypoint and then let the trade run.
Greeting from Hannover
Stefan Bode
The range 12,850-12,860 should be magnetically attractive.
Is this where the trend reversal and thus the end of wave 2 takes place, or has the air gone out of the market and market participants are securing their profits before the US election (in 2 months) and are switching to cash, gold, commodities or ...?
Greetings from Hannover
Stefan Bode
Pattern: Channel Up since late March.
Signal: Bullish (A) as long as the Channel Up holds (right now marginally holding), Bearish (B) if it breaks.
Target: (A) 11200 (right below the Resistance) and (B) 10200 (right above the Support) or the Higher Low trend-lines if you seek quicker profit.
Pattern: Channel Up on 1W.
Signal: Bearish as the price is below the MA50 and MA200 on the 4H chart, with a potential to form a Death Cross. Last time that happened DAX made a Higher Low on the Channel Up.
Target: 12500 (top of the Higher Low support zone).
* Latest successful Sell Signal on DAX:
By looking at the past two sessions, it is very clear that the waiting for FOMC does indeed affect the Dax. Yesterday’s session only had a range of 70 points and most of the time, we traded sideways, slightly to the downside. The session ended at the price 13 312.
Important zones
Resistance: 12 433
Support: 12 281
Statistics for today
25 % gap...
