GER30 Bias Confirmed. TP1 Hit Well done if you took the idea!
Cycle from 9.28.2022 low has ended as a 5 waves impulse at 15706.51. We labelled this rally as wave ((1)) as the 1 hour chart below shows. Wave ((2)) pullback is currently in progress to correct cycle from 9.28.2022 low. The decline from wave ((1)) peak on March 7, 2023 is unfolding as a double three Elliott Wave structure. Down from March 7, 2023 high, wave ((a))...
Support occurs where a downtrend is expected to pause due to a concentration of demand.
I do not typically analyse this index. But this one's for the culture. Anticipating longs unless I am proven wrong on Monday or Tuesday this week. I have outlined the price targets you should be concerned with should you go in with a long bias. This is technical science. Not random, there is no chance, no 'maybe it might do this or that'. It is calculated,...
Here is my view for GER30 on H1. The price could go bearish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
Price has bounced off the 23.6% Fibonacci retracement, we could see the momentum carry price up to its take profit target. Entry: 14,872.48 Why we like it: There is a 61.8% Fibonacci retracement and a swing low support Stop Loss: 14,442.76 Why we like it: Swing low support Take Profit: 15,718.21 Why we like it: There is an overlap resistance Please be advised...
Hope you are having a nice day. Looking at Zone 1&2 it looks a lot like we might be seeing some neutral movement for Monday i will also take extra caution when taking a trade. I also noticed that Zone 3 on the chart was a big resistance level back in November and December 2022 and then got broken out of. I do however think that the market will be testing Zone...
Beautiful higher timeframe retest of previous key level resistance looking left, as new support forming a higher low. 3 weeks now price has closed above this key region, & above this zone I am looking for price to resume the overall uptrend.. A lot of confluence in this region as it also aligns with the 50 fibonacci retracment of the previous impulsive stage. The...
DAX / 1H Hello traders, welcome back to another market breakdown. The dax has rejected a key level sending a signal to the bulls to buy more. Checkout the what I'm waiting for a swing trade. Trade safely, Trader Leo.
As shown it looks like the market could still continue down the channel till the end of the week, as it comes up to retest the Fibonacci zone to sell. It has also created LH AND LL inside the channel. With NAS100 having reaching a point of ''HIGH DEMAND'' yesterday we might see the same occur on DAX. for now i am waiting to see if it respects the levels or breaks...
GER40 - Intraday - Short term oscillators have turned negative. The trend of higher intraday lows has also been broken. The sequence for trading is lower lows and highs. Preferred trade is to sell into rallies. 50 4hour EMA is at 15242. We look to Sell at 15229 (stop at 15329) Our profit targets will be 14979 and 14939 Resistance: 15000 / 15120 /...
Breakout level accompanied by fundamental analysis
The GER 30 price has breached the bullish ascending channel to the downside with s strong bearish engulfing candle, and there is a strong likelihood that the price will undergo a further decline after testing the key level. Nonetheless, if the price surpasses and closes above the key level, there is a possibility of a bullish continuation, which would negate my...
We're watching the support level of 14877 very closely as it's a major overlap, 23.6% Fib retracement and a break of this level, coinciding with the ichimoku cloud bearish exit, could trigger a massive drop to the next support level at 13863. It's also nice to see strong bearish divergence vs Stochastic suggesting we could see a big reversal upon the break of the...
GER40 - Intraday - Bullish divergence can be seen on the daily (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher. The bullish engulfing candle on the 4 hour chart the positive for sentiment. We look to buy dips. Support is located at 15290 and should stem dips...
GER40 - Intraday Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower. The bearish engulfing candle on the daily chart is negative for sentiment. Short term momentum is bearish. 50 4hour EMA is at 15490. We look...
GER40 - Intraday Broken out of the channel formation to the upside. Trades at the highest level in 13 months. Price action continues to trade around the all-time highs. A lower correction is expected. 20 4 hour EMA is at 15525. We look to buy dips. We look to Buy at 15525 (stop at 15445) Our profit targets will be 15725 and 15755 Resistance: 15680 /...
On H4 there's a nice confirmation tested 2 times so we're surely looking to sweep the untested OB . I indicated using the green horizontal line which is the 50% candle which is the level I'll be taking short trades from . I hope everyone will have a profitable Monday. Feel free to ask more about the trade idea