There might be a chance that Tom McClellan's Eurodollar Indicator is telling some people something ... QED1! Commercials Positioning with a certain shift fitted perfectly to Stock Marker and FEF Fund Rate lows... But of course it's different this time .
The price is currently moving in a classic uptrend, forming a series of higher highs and higher lows. The trendline is acting as a dynamic support and resistance, reeminiscent of most indices. All timeframes from the daily to the hourly clearly show a defined uptrend. You know what they say in Latin, "Villi eme vende care". If you did not understand me, don't...
For the long term, the DAX index is in bearish momentum. On the weekly chart, we can see clear head & shoulders patterns at the top. For now, the price is just back to the neckline of the pattern that broke out in October 2018. In the 1H chart, if we look for a reason to sell, it will be the supply above which is where the price fell down with a gap a week ago....
Hello to all watching my charts.
Dax moved out from the long channel
and is now drifting sideways.
In my view no time to act at the moment in long or short direction.
On the sownside to short there is support at around 12260
(blue lower line)
If it breaks that also its short time in m< view.
On the upside the next barrier resistance is 12350 aerea.
As DAX now crossed the DC 11 channel (Donchian Channel 11)
i suggest to be custious on the long positions and for me
it seems to be best for long positions to close at 15:00 german time
In addition Dax has fallen under the red EMA which is in system trading a long close signal
At the moment it not a position to switch in short.
We have to wait what happens...
Hello to all watcching my charts
Dax is long since a while in the long trendchannel
First sign of weakness should be the fall
below DC 11. (Donchian 11)
If the lower channel breaks the long setup is gone.