The German stock index DAX 30 (GER30) was introduced under "DAX" on July, 1st in 1988 by the Frankfurt Stock Exchange. It consists of the 30 largest companies listed on the Frankfurt Stock Exchange based on the market capitalization and liquidity. The trading hours for the Frankfurt Stock Exchange take place from 9:00 a.m. to 5:30 p.m. CET. The DAX30 is usually reported as a performance index, which means that the dividends of the companies are reinvested.
HISTORY REPEATED ITSELF ON THE DAX30/GER30
20JULY TODAY WE SEE A BEARISH MOVEMENT VERY CLOSE TO THE SAME ONE THAT HAPPENED ON THE 21 OF JUNE . SUGGESTING THAT MARKET WILL REPEAT THE PATTERN .
Price reaches the Centerline over 80% of time. With this fact alone one has a great measure tool for profit targets, or a good hint where to hide stops.
The white Pitchfork's Centerline was a great indication that price will move in the opposite direction, after it recaptured it and closed above it again.
Now price is dealing with
a) the grey horizontal balance ...
DAX is still on a medium term Channel Down on 1D (MACD = -7.800) and as you see posted the new Lower High on the 0.618 Fibonacci retracement level. This is a strong rejection indicator and 1H is already reversing (Highs/Lows = -24.7500, B/BP = -53.6760). Our short targets are 12,509.40 (SL at profit) and 12,355.82 in extension.
yo fellas dax is still in a dangerous zone,only above 13100 monthly will be long position for the long term.
as a result we can still try shorting so(some of us dont believe to this rally),under 11500 tgt will be 9500-H&S patern monthly.
take care!
Update on the previous DAX idea, plan remains the same. We have a gap closed now.
Sell the break of the bottom TL protecting above last high before the break.
Dax is in decisive moment right now as it is testing the upper band of the rising channel and 61.8% Fibonacci retracement level at the same time. If the price crosses the current level to the up, we will watch previous top at 13 120 as a next target. In long-term, the upper band of the bigger formation in the vicinity of 13 600 will be the aim. If the price ...
Beautiful chance my friends!
If the resistance of our double-top-pattern gets confirmed it`s time to sell. :-)
Take a look at the 1h Chart and see the Breakout of the Up-trend-Channel.
I dunno how to add more charts. ;-)
Peace and good trades
The German PMI is positive, the positive outcome of the scenario will be if the ascending black trend line will be broken up, otherwise we are still prone to head and shoulders pattern completion. Trade war is still in the air and for example tariffs on german cars will probably move dax to 11800 lvl the down of h&s pattern. But if the trade war will fade and ...
The price is testing the lower band of the formation. As long as the price stays above the band and 50 moving averages, we can expect the movement towards the upper band with the level of 12 630. But if the parity drops, in mid-term we will watch 50.0% at 12 400 and 61.8% at 12 360 Fibonacci retracement levels.
Good ...
My own projection with a 12345 motive wave to higher prices has been false. The german index turned and tested the lower limit of the ascending trend channel. After haveing rebounded on this support it soon turned again on the fib retracement 78.6% (12600).
If it falls again on the lower limit of the channel, we can see the pattern of an inverted cup with handle ...
DAX 30 Currently in phase C stage of distribution. Optimal entry here will be upon a successful retest of the lower boundary of the range from beneath.
Dax Index Update 31st May
The Dax fell 10 points shy of the first target at 12599 before
bouncing along with FTSE at 7600-7580.
It's since started to make a continuation pattern which can
push higher to 12798 -12830 but should eventually break the
lower smaller parallel and offer another shorting opportunity
once it does so back to 12609-12599.
Any ...
Hey guys! So today I'm taking a look at the European market, more precisely the German stock market and this is not looking so good now. Since Germany is the economic power of Europe, we can rely on this index (DAX) to know what's up with the European stock market. After the Dow Jones index or the S&P 500 index, my favorite one to take a look at the western ...
