So I was expecting a pattern here and we have a perfect Impulse and a corrective structure which seems like a ZIgZag ABC.
A smaller degree impulse happened inside the structure so we will look for a buy set up; however it could continue correcting, let's hope it goes as planed.
Always trade with care,
View On German Index (27 Mar 2018)
DAX is the strong pullback mode since last Jan and now it has reached an important resistant region
Now, I am not seeing any extreme edge at the moment and the market shall go into range for the immediate term (up to 1 month)
it will use 11300 as support level while 11600 as resistant for now.
DYODD, all the best and...
The DAX index has hit daily resistance at 11,48x and will continue down for the time being.
I've seen a lot of chatter about the coorelation between AUDUSD and DAX and I have to agree that it follows it by +/- 60 days. If I continue to use this theory as a basis for my trate, we should see DAX shave off around 1,000 points in the next week.
We called this our yesterday, already 200 pips + in profit now.
Today has been the worse day for there German DAX since February 7th (1.6%) where now we will see a decline all the way to the 11,500 region.
Clear D1 Ger30 sell opportunity.
We haven't yet solved Brexit :D
We buy long bad economy data :D
April Option Interest is in focus of 11.420 :D
RSI D1 clear overbought sign :D
What is here going on?
Algos doing crap again. This runs on steroids.
Don't get trappet.
Target: 1 11680
Target: 2 11450
Some technical oscillators are suggesting overbought, but others not so much. The Fibo retracements suggest a strong resistance level. Overall, I want to see the DAX get above these levels if we expect this upward wedge to continue.
The Dax slowly but surely approaches the target zone
now it is to be seen when the first reversing candles will appear. This will also be the time at which I position myself short. not only intraday but also a knockout certificate.
what do we have here?
The Dax approaches the zone of resistance of the shoulder head shoulder formation.
This is also the point at...
Diagonal resistance. Price just touched the level again, on which indicates a good downside momentum, with a gap opening and candle being rejected, not only diagonal resistance being touched but also a horizontal resistance.
Stop loss should now be above the gap opening candle, and take profit should be at the next support level .
Let's take a quick look at the dax.
we see the Dax fighting back into a crucial backtest zone.
The next few weeks will be very exciting as a reversing candle has to wait to position yourself dan and let things run their course.
in the moment, the dax still has strength therefore it is currently still to be seen how the candles look after the...