Looking to take potential Short Positions upon the retest of the previously formed Weekly/Daily Supply Zones which is also a retest of the level in which the market broke out of, a break above the Weekly Swing High will result in our potential Short Positions being violated at which point we will then be expecting to see a rise in the value of German30.
✅DAX is trading in an uptrend
And is still consolidating above
The horizontal support line of 15.600
But I am bullish biased so I think
That it will go up eventually
LONG🚀
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there is a clear limit at GER30, it could be that when the price breaks the upper limit, an extend wave occurs which can be long enough to continue being bullish. look for areas to buy after positive prices break this upper area.
Short DAX - Near Highs, banking uncertainty in US (don't want to be long into the weekend) and sticky inflation. Feels like a good downwards move to the daily trendline could work out well - Hopefully today.
DAX is trading inside a Channel Up with the 4H technicals neutral (RSI = 53.275, MACD = -10.100, ADX = 32.263). With 1D also neutral , it indicates that the dominant bullish trend has to be favored and that this is a buy opportunity. That is also supported by the 4H RSI which held the 38.60 Support.
Keep in mind though that the index has been pulling back inside...
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Pivot: 15810.00
Our preference:
short positions below 15810.00 with targets at 15690.00 & 15572.00 in extension.
Alternative scenario:
above 15810.00 look for further upside with 15890.00 & 15960.00 as targets.
Comment:
the RSI has just struck against its neutrality area at 50% and is reversing down.
GER40 - 24h expiry
We are trading at overbought extremes.
Short-term momentum is bearish.
Bearish divergence is expected to cap gains.
15750 continues to hold back the bears.
15729 has been pivotal.
A break of the recent low at 15729 should result in a further move lower.
We look to Sell a break of 15719 (stop at 15801)
Our profit targets will be 15519...
The DAX has remained within a tight consolidation just beneath its ATH (all-time high) over the past three weeks. Whilst it has so far failed to break higher, neither has it sold off. The OBV (on balance volume) indictor has moved to a new cycle high which suggests underlying bullish power, and Friday's lower wick (and bullish hammer) shows demand around the March...
The key economic news to watch will be the upcoming interest rate decision by the European Central Bank (ECB). Analysts expect that the bank will hike interest rates by 0.25% and point to at least two more increases since inflation remains sharply higher. The ECB has more room to hike interest rates since it was late in hiking.
Based on my technical analysis using SMC I will be waiting to sell Ger40 at limit shown on chart. Remember trading is risky and you should manage your capital and do your own risk analysis. Let's see how this one plays out.
The German stock index treaded water for over 14 years, when priced in gold.
Below 2007, 2018, and 2021 peaks.
Remove the nominal fiat illusion.
#xaueur #dax #gold #fintwit
Europe and especially Germany (the biggest power in Europe) have suffered this year due to the energy crisis.
There is more background though... The US has performed well until now. This period of US dominance is failing.
The chart above is respecting a long-term trend. Now, price is at the bottom with stochastics primed for continuation of the uptrend for...
