The DAX appears to be forming an inverse head and shoulders pattern where we may see a reversal in the current bearish trend.
The weekly structure lows are offering support currently and daily price action suggests we could see an inverse head and shoulders pattern
form. A break and close above the neckline will allow us to look for long opportunities.
The German Dax remains in an uptrend and has recently impulsed higher.
Diving into the 4hr timeframe we can look for an opportunity to buy the market
in line with the daily timeframe. The 4hr chart is forming higher highs and also
has confluence with the 20 and 50 EMA crossing. If price pulls back to the level
we can look for a long opportunity into the major resistance.
In this video update, we take a look at a potential swing trading opportunity on the 4hr timeframe.
The daily chart is forming higher highs and higher lows and we could expect the price to test the
previous swing highs and key resistance. Now price is back to our demand zone we are
looking for a HH, HC candle for a long entry.
In this video update, we take a look at the Dax (Ger30) index as price has stalled at a key weekly resistance level.
With growing concerns over the economic slowdown in the Eurozone, the indexes could suffer.
Dax 4hr chart shows price changing cycle which could lead to further downside.