It looks like DAX is moving in rising wedge. Top is very close and I see target at 11800-11900 area. After that I'm expecting bigger correction or even huge impulse down. So my plan is to short at this level. Will see...
Este tipo de GAP afianza el movimiento del mercado y la tendencia, en el ejemplo se ve como pase de un mercado lateral a marcar el sentido del nuevo movimiento bajista.
El cierre de GAP, muestra el inicio del cambio de la tendencia, en este caso venia de tendencia alcista y son los últimos coletazos, antes de tomar la tendencia alcista.
Fundamentals:
- eco data clearly on the soft side (fear of technical recession becoming reality)
- low int. rate environment - hurting EU financial sector
- wage growth pressing company margins
Technical:
- weekly 20 & 200 MA confluence was a strong resistance -> reason to close long positions
- broad channel pointing lower -> price below 10.000 level is on the table
Tenemos el futuro del DAX en la parte baja del canal alcista que ha formado en timeframe de 1 hora, puede ser buen momento para tomar posiciones a largo con un stop loss ceñido por si se gira el mercado.
Pattern: Rectangle on 4H.
Signal: Scalping within the soft Support - Resistance range (10808 - 10955). Hard range (1077.50 - 10990.50) can be also considered by those who seek maximum profit but on greater risk.
Target: Short TP 10820, Long TP 10940.
In the long long time frame, we could be just in another correction, ending wave 4 in area 9000-8800 before resuming the uptrend towards 15k area.
Just an idea that needs to be confirmed by Eliott wave levels.
Any ideas are welcome as always.
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