DAX has made a Bullish SFP at the Low of the Trading Range. This downward movement also seems like a Bear Trap which gathered the enough liquidity for the next leg up. But first, price needs to reclaim the upper zone of the Key OB and get back in the Wedge.
Please let me know if you have any suggestions or any ideas...
DAX has touched (and marginally breached) the 11,620 1D Support today (RSI = 36.615, MACD = -138.200, Highs/Lows = -362.6572) forming a Death Cross on 4H (MA50 crossing below the MA200). This is normally a bearish pattern but has proven to be bullish for DAX on the 4H scale.
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DAX30 has been labeled within a Sub-Millennium degree wave 5 (blue), which has been unfolding ever since the 2009 bottom, when the Recession ceased.
Structure - Ending Diagonal
2009 lows and up until Apr 2015 peak - Grand Super-Cycle I (green)
Apr 2015 peak...
DAX - Looks like there's room for one more push lower as we seem to be only in a wave 4 for now.
Be aware that price could stay sideways a bit more before falling.
If price moves above the invalidation level, then the count is wrong and we most likely have started the bullish trend
and need therefore look to buy
The stock markets have turned red again as the risk-off sentiment has returned.
The global risk is affecting the stock markets across the board with the DAX here looking bearish on the daily timeframe.
If price breaks through the trendline support we could anticipate a further decline.
The Dax has fallen recently, however, the price is still supported by the long term weekly
trendline and the dynamic support and resistance of the moving averages.
Price has formed a new low on the daily timeframe however if we see a bullish close today
we could assume it is a false break of the lows. In that case, we can assume the uptrend
will continue into the...
The DEU.IDX pair has been trading in a junior ascending channel pattern since June. The pair bounced off the bottom border of the channel pattern at 11616.2 on June 3.
The German 30 index made a pullback south from a resistance level at 12571.5 during yesterday's trading session.
Currently, the pair is testing a support cluster formed by the 50– and 200-hour...
The German Dax remains in an uptrend and has recently impulsed higher.
Diving into the 4hr timeframe we can look for an opportunity to buy the market
in line with the daily timeframe. The 4hr chart is forming higher highs and also
has confluence with the 20 and 50 EMA crossing. If price pulls back to the level
we can look for a long opportunity into the major resistance.
Updated View On German Index (22 July 2019)
DAX is in the "potentially minor" pull back at the moment.
I expect the following support levels can stop the price from going lower. They are 12,200 and 12,080 region.
So, if you want to buy in, be patient and wait for a good set up to appear.
DYODD, all the best and read the disclaimer too.
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