Just before US Market Open the DAX Index bounced of 13300 filling perfectly the gap. You are looking at the DAX Chart of OANDA which is also active overnight, you can see Gaps on the Xetra Chart of the DAX Index (which is not active during Overnight) While the $SPX500 already trying to break a similar Patern to the upside targeting Prices around 3200-3220 the DAX...
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In the Overnight hours the Dax Index Price broke out to the upside is now heading to retest next resistance level of 2018 highs. For 100% Confirmation we have to wait for this daily or this weeks Candle Close to be sure about this breakout but the fact that we broke resistance trendlines and trading currently at market open, above all past 2-3 Weeks Candle Closes...
www.youtube.com I Publish Daily chart updates on over 49 Assets including Forex pairs, Indices, Commodities, Metals, Cryptos and more. Watch them via the above link
www.youtube.com I Publish Daily chart updates on over 49 Assets including Forex pairs, Indices, Commodities, Metals, Cryptos and more. Watch them via the above link
Price level at resistance and 200SMA, a break to the upside is a buy signal, target back to the highs. An uptrend line is not confirmed yet with only 2 touches, need 1 more touch with a bounce. A break lower on risk off mood for a short. Good Luck!
The DAX managed to pull back, as anticipated through rotations at the top of a structure area it failed to break above into its all-time high and into a new high after several attempts and the downside was expected. We had 2 levels identified as potential targets, the first being the cluster of support that was mapped out based on where the price started its rally...
OANDA:DE30EUR is weak. Numbers are high but citizens are suffering, like pretty much everywhere! The domino is shaking, who is the weakest we will see!
Immediate short on DAX makes sense if you look at it on a weekly basis there is reversal structure forming at the current price, the long wicked dojis and red candle pinbars are associated with a move lower. The volume is accumulating for a slight retrace as the DAX cannot catch up to the US equities at all-time highs. The retrace is still the previous broken...
Early notice for high vigilance on lower time frames. See this 3D channel.
We look to Sell at 13305 The medium term bias remains bullish. Price action has formed an expanding wedge formation. We have a 78.6% Fibonacci pullback level of 13307 from 13380 to 13040. Negative overnight flows lead to an expectation of a weaker open this morning. Further downside is expected and we prefer to set shorts in early trade. Expect trading to remain...
Like analyzed before there could be ABC play in the DAX manifesting itself over the next couple of sessions. The call was still early however now we see the first confirming price action, in focus is now the horizontal trigger level, should it be broken the setup can become active.
The German Market Index currently yields a nice risk to reward opportunity to the downside. This move could play out this week as long as we stay under the point of invalidation. Price action signal for the setup is still missing.
The Dax has recently played off of our short level the endless rotation at the 13305 was the indication that there is a stall in momentum from the upside. Meaning we could see a retrace. It's not as strong as the US equities due to the European economy, German economy and the monetary policy. We are watching the retrace into the 12880 support as the first pitstop...
The German Market index may have signaled a significant highpoint with a false break out to the upside this week. However I am still expecting a deeper pullback at the moment before we could get confirmation that the momentum to the downside will resume. Area of interest is the zone between 50-76.4% pullback. Should we go over 76.4% I am expecting the downside...
Price in a range for days now, allows great trading opportunities to trade a bounce of support and resistance. Risk-reward is best there. Only a decisive break of the range will confirm a short or long, wait for the retest for more confirmation to avoid false breakouts. Good Luck!
The German Market Index could see a ABC correction soon, as suggested by the 200 Period Bollinger Bands on the Daily and the RSI. However talking a look at the current trend channel we could see just another final pull up to the 13400-13600 level before correcting. As long as current levels hold above 13100 the long direction should still be prefered with one...