The DAX high of 13'601 came down to 10'281 (3'320 pips). Then it went up to11'390 , retraced just off 50% which likely means that it will go up to 11'940 or thereabouts. That level also happens to be 50% retracement of the down from 13'601 to 10'281 which leads me to think that we can expect a strong fall to 8'620 or thereabouts.
Those that have followed my...
Hello Traders
I'm looking at the last structure as a complete expanding flat and as you can see it broke the trendline after the last bottom. It hasn't gone up very impulsive sofar but after correction, it can gain momentum. Now, I'm waiting for a small drop, reversal impulse and correction to place an entry order. I don't place an order above the last top at...
So since my last post about DAX has been throwed in the gutter, only right thing was this chanel, which turns out to be HUGE
possible bear flag. I'have pending sells on all three pink lines Tp around 11 500.
The German stock index DAX 30 (GER30) was introduced under "DAX" on July, 1st in 1988 by the Frankfurt Stock Exchange. It consists of the 30 largest companies listed on the Frankfurt Stock Exchange based on the market capitalization and liquidity. The trading hours for the Frankfurt Stock Exchange take place from 9:00 a.m. to 5:30 p.m. CET. The DAX30 is usually reported as a performance index, which means that the dividends of the companies are reinvested. In a price index the corporate distributions remains disregarded (this can be seen e.g. in EUROSTOXX50). If a company wants to be included in the DAX, it must be listed in the Prime Standard, it has to be traded continuously in Xetra and have at least a free float of 10 %. Additionally, the company must have a registered office in Germany or the main focus of its traded volume in shares is in Frankfurt and the company has a seat in the EU. Based on market capitalization, the five biggest German companies listed in the DAX 30 are Bayer (BAYN), Daimler (DAI), Siemens (SIE), Allianz (ALV) and BASF (BAS). The development in the DAX is often seen as an indicator for the development of the German economy. As a result, the DAX can be seen as a proxy for European economic health since the German economy accounts for almost one third of the total value of the Eurozone economy. The DAX 30s counterparts in Europe are the CAC 40 in France and the FTSE 100 in Britain.
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