The DAX (GER30) is rising towards a multi-swing-high resistance and could potentially reverse off this level to drop lower.
Sell entry is at 16,797.48 which is a multi-swing-high resistance that aligns close to the 100.0% Fibonacci projection level.
Stop loss is at 16,900.00 which is a level that sits above a multi-swing-high resistance.
Take profit is at...
In the higher time frame, it looks like we started a new upward cycle from the October low. This means the wave ((2)) low is in after an expanded flat. The alternative scenario assumes a wave (2) low of a lower degree. In the lower time frame, we are observing ending upward structures. However, another high as a wave 5 cannot be excluded. The primary scenario...
Plan the trade, trade the plan.
I am expecting price to clear the BSL (16442.7) before entering the 4h FVG (16446.5 - 16501.5) . I am expecting it to reach the FVG in London Session as an Manipulation continuing down for the SSL (16349.5) after London Session, depends on how the markets works i am considering selling tomorrow.
Hello friends,
On the 4-hour chart of the CAPITALCOM:DE40 pair, my first target is 16,346, and the second target is 16,143.
Best regards,
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Good Morning,
i could see dax breaking out of this bull channel to rally upwards. I'd look only for longs here. Here is my recap from yesterday after hours to give more context:
Let’s look at the 1h tf because today closed 10 points above the opening price. That tell’s you enough. Opex sold off 100 points to eu open and bulls could not get this above 16560....
We had a plan on this to long from below and were looking for the higher level to react. So far so good so we'll stick with the plan to go lower unless we break above resistance.
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In the higher time frame, it looks like we started a new upward cycle from the October low. This means the wave ((2)) low is in after an expanded flat. The alternative scenario assumes a wave (2) low of a lower degree. In the lower time frame, we are observing ending upward structures. However, another high as a wave 5 cannot be excluded. The primary scenario...
Pivot
16509.00
Our preference
Short positions below 16509.00 with targets at 16350.00 & 16270.00 in extension.
Alternative scenario
Above 16509.00 look for further upside with 16570.00 & 16630.00 as targets.
Comment
The RSI lacks downward momentum.
Supports and resistances
16630.00
16570.00
16509.00
16406.30 Last
16350.00
16270.00
16200.00
Number...
In the higher time frame, it looks like we started a new upward cycle from the October low. This means the wave ((2)) low is in after an expanded flat. The alternative scenario assumes a wave (2) low of a lower degree. In the lower time frame, we are observing ending upward structures. However, another high as a wave 5 cannot be excluded. The primary scenario...
DAX (DE40) has transitioned into a Channel Down pattern following the December 14 top rejection on the Higher Highs trend-line. The 1D MA50 (blue trend-line) is fast approaching as the first level of Support but we expect it downtrend to bottom lower as resembles the declines of August 2023, March 2023 and December 2022 both on price and 1D RSI terms.
All those...
