DAX IndexLong
GER30 could be retracing before continuing to the upside(WEEKLY)
(WEEKLY TIME FRAME ANALYISIS)
As we can see on the ger30 chart on the weekly timeframe it shows that it started a bullish movement to the upside ever-since thursday 03 oct. trendline placed was broken out off and continued going to the upside up until a particularly strong resistance area at price level 13496.23. when i headed down to the lower timeframes it confirmed the retracement but "up until when?" was the real question. so i went back to the weekly timeframe and pulled out the fib tool and it indicated that it may be retracing to fib level 0.5/0.6 over the next few weeks before continuing to the upside
As we can see on the ger30 chart on the weekly timeframe it shows that it started a bullish movement to the upside ever-since thursday 03 oct. trendline placed was broken out off and continued going to the upside up until a particularly strong resistance area at price level 13496.23. when i headed down to the lower timeframes it confirmed the retracement but "up until when?" was the real question. so i went back to the weekly timeframe and pulled out the fib tool and it indicated that it may be retracing to fib level 0.5/0.6 over the next few weeks before continuing to the upside
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