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...
The last session of the previous week did not offer something really interesting. Our support at 11 716 did not work as a point of reflection, but rather as a place where the market slowed down for several hours. Today we are opening with a long gap.
Resistance: 11 899, 12 031
Support: trend line
Statistics for today
Detailed statistics in the...
Been in a prolonged downtrend on the German Dax...world equities really, and it seems we began to bottom out here. We stopped making lower highs and lower lows.
We hit a support one and from there have gained some bids. Seems we got what appears to be a wedge/triangle break above a resistance zone on the 2 hour followed by higher highs and higher lows. A good...
Not a textbook head and shoulders, but this is real life. What the head and shoulders tells us is a shift from one trend to another, we see this with the swings.
The German Dax had a break below a support/flip zone as other equity indices also sell off.
This is a nice and strong break, but again, perhaps await for the Federal Reserve to speak before entering....
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...
Following the DB announcement of 18,000 job cuts, and the wider slowdown in Germany, stemming from Trade War squeezes on various industries, the ECBs money printing program is no longer driving the DAX higher.
Volume and price trending lower
Thursday's session was very nice and with reasonably volatile moves for profitable trading. Dax first climbed to hit Wednesday's high and by doing this, the statistical probability of 82% to break previous day high or low was fulfilled. A bit later, sellers took over even though we expected them to react on higher prices. The price sliced through the support zone...
- German industrial production declining (-1.8%)
- IFO business climate continuous decline from 105 to below 97 points in a year
- ECB program and rate cut insufficient support for economy
- Daily double top formation
- 38.2 Fib level as TP1
- Enter trade with SL above recent high
Welcome to a new trading week. Friday's session turned out as expected, but unfortunately, our zones didn't get a chance to play a role. The resistance at 12 337 and 12 373 didn't attract any sellers. They entered a bit higher at 12 409 and continued to dominate intra-day price action. Dax then closed just short of the support level laying at 12 219. Today, we...
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.
Resistance: 12 433
Support: 12 281
Statistics for today
25 % gap close