The TecDAX is something like the German NASDAQ (excuse the insult).
The index was in a downward trend for a long time and has made up a lot of ground in recent months.
Currently, the market is in a consolidation phase.
Between March 2022 and January 2023, an inverse shoulder-head-shoulder formation was formed.
A price increase up to the order block is expected.
We...
TecDax index has been accumulating strength around 3k for months, slowly reverting the relative downtrend versus Nasdaq 100 with a clear pullback last august. The long term uptrend of TecDax still holds, despite war and Us technology giants crashing.
In a monthly chart you can see two curved arrows that indicate a contraction in the Bollinger bands, the average that I use is 5 months, I think and I say that a contraction or expansion of the Bollinger bands just given at that moment of their shrinkage or expansion is where a direction of a market or action is possibly determined etc
TECDAX BUYING OPPORTUNITY. GARTLEY PATTERN COMPLETED IN A NICE AREA OF SUPPORT DEMAND. RSI OVERSOLD ON 4H TF. CURRENTLY WE ARE IN CONSOLIDATION MOVING SIDEWAYS BUT IN MY OPINION LAST LEGS OF THE MOVES MIGHT BE THE START OF THE NEW BULL TREND. GOOD RRR RETEST OF STRUCTURE OR EVEN EXTENSION OF FIBS. GOOD LUCK
