What makes us expect a technical correction this time, is the similarity in terms of RSI with mid February 2023. It took another 3 weeks for the price to decline but not before the RSI completed a Cup and Handle pattern. That was a -8.00% decline, we are aiming from the current levels for a -6.40% decline, which happened another 2 times, so our target is near the...
This day, the DAX40 has started higher , recovering the ground lost in recent days. Expectations for the euro zone are upbeat, especially for inflation, trade balances and retail sales data, with expectations for an improvement in German earnings standing out. Sales in the Italian market will be key for the Milan index, looking to close the week in positive, if...
Bespoke support is located at 17,683 and 17,085. Using projection analysis for an Elliott Wave count (5 waves) offers a resistance level of 18,053.
The one-hour time frame highlights an ending wedge pattern. The trend of higher highs is located close to the projection level. On a break of the trend of higher lows at 17,817, the measured move target is 17,660....
DAX is on the pivot point at 17909.64, price could bounce off the pivot and rise to resistance that aligns with 161.8% Fibonacci extension.
Pivot: 17909.64
Support: 17653.29
Resistance: 18043.82
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs...
Short Term Elliott Wave view in DAX suggests cycle from 1.17.2024 low is in progress as a 5 waves impulse. Up from 1.17.2024 low, wave ((i)) ended at 17049.52 and pullback in wave ((ii)) ended at 16830.28 as the 30 minutes chart below shows. The Index then rallies higher within in wave ((iii)) with internal subdivision as another impulse in lesser degree. Up from...
The Dax40 broke a lower time frame structure, 17930 was a support which was respected at lot, but a quick scapl can be spotted. The trend is although still bullish but the short term bearish setup could be placed upon retest of the structure.
Cracks appearing in the run up now. Decent supply coming into the markets. If that shuts off abruptly and gets bought into another short squeeze then I’m wrong. If supply flushes down then could be a big one. Aim for breakeven at signs of failure to push down as it should go quick. This is a low probability, high reward trade.
Europe as is the whole world is now setup for a correction of greater than 5% from 3/11 to April 2 nd 4/2 2024 . I am short and long in the money and at the money puts .
Possible long trade on Dax low volume recovery.
30min uptrend confirmed by 200EMA
Volume profile POC closing above previous day and leaving low volume cave below.
Market profile showing excess at previous days low and poor high.
Potential for price to fill low volume cave with 2 x previous day high and fib retracement.
Stop loss below cave, target at round...
Based on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...
GER30 is bullish on 1 Hour time-frame. I have identified 2 areas of interest tongo LONG. Look for the LTF confirmation before taking any kind of entry. Thank You.
The DAX (GER40) is falling towards a pullback support and could potentially bounce off this level to rise towards our take-profit target.
Entry: 17,658.75
Why we like it:
There is a pullback support that aligns with the 23.6% Fibonacci retracement level
Stop Loss: 17,451.85
Why we like it:
There is a pullback support that sits under the 38.2% Fibonacci...
DAX (DE40) is extending a very strong Bullish Leg, which started after the previous short-term correction ended on January 17 2024 with a contact on the 1D MA50 (blue trend-line). This is part of an overall Bullish Wave that emerged on the latest Higher Low (October 27 2023) of the 1.5 year Channel Up.
However as the 1D MACD is about to form a Bearish Cross...
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*KEY
Trend direction is set by the slope of the VWAP
Trend phase is determined by the current price relative to the VWAP (20) level and Elliot waves
Support & Resistance are set by the...
