14620 triple support zone worked fine, as market based there and gapped up this morning, probably due to news on the end of the UAW strike for US.
Nonetheless, weekly and monthly candles look bearish, thus IMO market needs to find a base before a good up move. One such possible move might be, market sell off first later, and rebounded sharply; if so, that could...
GER30 is breaking structure bearish, bouncing off a W trendline, and has closed below the 50EMA (for those that use EMAs). This weeks candle closed with a large wick at the top and the body at the lower half of the candle. This is a bearish candle. Looking to take the entry to the next weekly low from March 2023. It is a little bit over a 1:1 trade
Let's look for entry to go long on the highlighted golden zone
The price broke the structure and the price needs to retest before it keeps on pushing to the upper side
What is your view on this
In the higher time frame, we are working on a wave ((2)) correction down. The primary scenario is now suggesting that wave ((2)) is unfolding as an ABC. The five waves down from the ATH might also indicate a bearish expanded flat scenario. In the lower time frame, the final wave ((v)) of wave 5 of wave A looks incomplete.
DAX
the price is trading under 14810, if stabilized under that zone, will support the price to get 14620.
otherwise, decline the price and stabilized above it will support the price to reach 14950.
In my Point of view, 2 latest low swings are still convergent but D1 makes little classic divergence by momentum side, the things you guys have to focus on are:
1. price has to not break through 15566.06 (If it breaks it means that it'd change to a new trend)
2. when the price goes to the zone key point, I have two points of the price you choose to sell, which...
DAX is somewhat strong yesterday (less bullish) as it ranged while US indices did make a new low before pulling back. I gave a short off 14830 or so and a long from 14620 but both did not trade.
Price opened today and is attacking the top of the BZ. If price can keep in range within the PZ, would like to see a possible sell down to new lows, test of 14620, find...
In the higher time frame, we have completed a WXY correction but as forecasted this was not yet the wave (2) low. The lower time frame was showing corrective price action indicating more wave (2) downside. Several bearish scenarios can be considered because we took out the 04/10/2023 low.
Todays intraday session shows how important Bouhmidi-Bands can be for day trader and specially options traders. We started with a break of 1st STD lower Bouhmidi-Band after that we saw a typical reversal back into the bandwidth. After us opening we see a typical volalitiy swift and impulse that put pressure on DAX and pushed back below lower Bouhmidi-Band. Still...
There is a stop-up pattern with a double top in addition to strong resistance from an upward trend that cannot be penetrated. Therefore, I find that during the next year or two there will be a strong decline and a major correction in the German Stock Exchange index to the shaded area below, and this is very healthy for a stronger and greater rise.
Please clarify...
My Confluences:
Big Wick Key Level area
76.4% Fibo area, through Backtesting I have noted this fib in the structural plays on the Dax within my strategy
14500, 500 being a psychological number in the DAX
Here is another scenario in which we could risk a short but sharp price slide. And all of this at the window dressing moment (so you have to be prepared that things will turn up again :)
In the higher time frame, we have completed a WXY correction but as forecasted this was not yet the wave (2) low. The lower time frame was showing corrective price action indicating more wave (2) downside. Several bearish scenarios can be considered because we took out the 04/10/2023 low. In the lower time frame, before going down, we might see some upside as a...
DAX hit (even breached) the bottom of the Channel Down on the 1D timeframe and reacted with a rebound. It is not a strong one yet as the 1D technical outlook is still bearish (RSI = 34.478, MACD = -177.100, ADX = 34.069) but the remarkable symmetry with the two bearish legs prior, calls for a currently undervalued price for the short term.
Technically the two...
