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.
Hi Long Dax toward "Minor" Trendline (_ _ _ _ _). We are away from "Minor" more than 10%.
Near "Minor" Dax could feel (Italy, Brexit, Trade War,...) "Minor" and so down to get "Major" Trendline (_______).
Head and shoulder pattern completet. Holding at the lower longer term trendline. RSI confirming a meltdown in volatility and volume is low as well.
Nevertheless, it looks like the future will break the lower trendline and the RSI continue its way towards the lower oversold line. Interesting will be to see the increase of volume, which would provide and indication ...
FDAX opens already with a gap of nearly 80 points lower from Friday's close. My early target was between 12'290 - 12'300, but should this be a high volume day, then even a further 100 points loss if not even more is possible (today or the next 2 days). Breaking all previous points from this point on could mean a test of the lower trendline of the long term trend, ...