Currently there is a lot of gloom around the German economy, yet DAX is trading near an all time high. Looking to short German stx that look technically over-extended and where there is a strong risk reward to do easy invalidation/tight stops.
We have fallen back below the January 2022 high again. This means that the strength of the bulls is not sufficient to maintain the new high of this year. A retracement of the rally since June became likely.
We have hit the former high of September, the 3rd November gap and the intrinsic mid November resistance again. I expect a downward correction of the rise since November 30th.
We are stopping the decline above the Bollinger Band so that a new upward attempt may be expected.
After the long November rise we are within a sideward correction phase that may be considered being a bullish correction.
The chances are high that within a few days the stock price will break out of the triangle.
Going all in for this setup Weekly curve with 30m confirmation Trade idea by one of the GOATS 🐐 MR ALFONSO MORENO
With a low of 125.1 the retracement of the rise since end of December could not be completed. This I consider as a sign of an intact momentum to rise. As we see higher highs and lows meanwhile and a rising Vortex Indicator I feel confirmed.
XETR:HNR1 There might be another bearish divergency coming with Hannover Rueck. There was a first one mid september (see first red arrow in MACD). The downtick of the MACD completed a bearish divergency, as prices moved to a higher value but MACD to a more shallow high. Going short with the downtick would have meant possibly going in at 120. Completing the...