✅DAX is trading in an uptrend
And the bullish bias is confirmed
By the rebound we are seeing
After the pair retested the rising support
So I think the growth will continue
LONG🚀
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Pivot: 15860.00
Our preference:
long positions above 15860.00 with targets at 16130.00 & 16225.00 in extension.
Alternative scenario:
below 15860.00 look for further downside with 15790.00 & 15710.00 as targets.
Comment:
a support base at 15860.00 has formed and has allowed for a temporary stabilisation.
Pivot: 16225.00
Our preference:
short positions below 16225.00 with targets at 15860.00 & 15680.00 in extension.
Alternative scenario:
above 16225.00 look for further upside with 16350.00 & 16470.00 as targets.
Comment:
as long as the resistance at 16225.00 is not surpassed, the risk of the break below 15860.00 remains high.
GER30
the price as long stabilizes above 16015 the target will be 16206 and above it 16354
otherwise, stabilize under 16015 by closing the 4h candle under it, then will be falling to get 15718 and 1556
pivot price: 15015
resistance price: 16206 & 16354 & 16506
support price: 15718 & 15563 & 15426
timeframe 4h
GER40 - 24h expiry
There is no indication that the selloff is coming to an end.
Indecisive price action has resulted in sideways congestion on the intraday chart.
The lack of interest is a concern for bulls.
We look for losses to be extended today.
A break of yesterday's low would confirm bearish momentum.
We look to Sell a break of 15947 (stop at 16047)...
GER40 - 24h expiry
The primary trend remains bullish.
We look to buy dips.
We are trading at oversold extremes.
50 1-day EMA is at 16050.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
We look to Buy at 16051 (stop at 15951)
Our profit targets will be 16301 and 16351
Resistance: 16150 / 16250 /...
DAX is pulling back today after a rejection on R1 (16,530), the biggest 1D red candle since July 6th. The 1D technicals are bullish (MACD = 102.900, ADX = 31.239) but the RSI close to becoming neutral (RSI = 55.835), which indicates the slow pace of this uptrend. The 1D MA50 made an emphatic hold four days ago, so as long as it holds we expect the index to...
H4 - Price is bouncing lower from a key resistance zone.
Expecting short term bearish moves to happen here.
H1 - Bearish divergence.
Most recent uptrend line breakout.
Until the key resistance zone holds I expect the price to move lower further in the short term.
We wait for more data to initiate a trade. Firstly, we are waiting for a clear ABC pullback before going long. Secondly, we are waiting for the wave 3 area in the 4h to go short.
Short Term Elliott Wave view in DAX suggests that a index ended wave (3) at 16427.42 high. Down from there, the index made a pullback in wave (4). The internals of that pullback unfolded as a zigzag correction where wave A ended at 15713.70 low. Up from there, the wave B bounce ended at 16209.29 high in a lesser degree 3 wave. And started the C leg lower towards...
From the previous trade analysis on DAX, it hit our target of 16,333.
This was due to a Falling Wedge along with a Reverse Cup and Handle pattern.
Since then, the price has moved into a consolidation period where the price was fighting between the bulls and bears.
And guess who is winning? The bulls again.
There has been a smaller pattern form called a...
we have double top formation busy forming on the higher time frames i.e month which can also be used a resistance level and is also taking the form of a expanding triangle on the current market i.e daily and the 4 hour time frame
We are a little above the resistance zone (perhaps it is a fake breakdown) and after the weekend, when the market volume will decide the direction we are going. I predict two scenarios, a rebound from the lower part of the channel or a breakout and rebound on the first resistance line. Both versions assume a long-term LONG.
GER40 - 24h expiry
Price action resulted in a new all-time high at 16503.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
20 4hour EMA is at 16350.
Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a...
