DAX Elliott Wave Analysis for Thursday 28/09/2023The higher degree correction in the DAX can be finished as we took out the wave (W) low. However, the main expectation is that we see some further downside.
D-DAX
DAX Elliott Wave Analysis for Wednesday 27/09/2023The higher degree correction in the DAX can be finished as we took out the wave (W) low. However, the main expectation is that we see some further downside.
GER40 lack of interest is a concern for the bulls.GER40 - 24h expiry
The lack of interest is a concern for bulls.
Previous support at 15600 now becomes resistance.
There is no clear indication that the downward move is coming to an end.
Rallies should be capped by yesterday's high.
Current prices have reacted from a low of 15327, however, we expect further losses to follow.
We look to Sell at 15578 (stop at 15678)
Our profit targets will be 15328 and 15268
Resistance: 15440 / 15500 / 15600
Support: 15327 / 15300 / 15200
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DAX Elliott Wave Analysis for Tuesday 26/09/2023The higher degree correction in the DAX can be finished as we took out the wave (W) low. However, the main expectation is that we see some further downside. This downside should be preceded by an upward move as we are close to finishing an ABC structure.
DAX Elliott Wave Analysis for Monday 25/09/2023The higher degree correction in the DAX can be finished as we took out the wave (W) low. However, the main expectation is that we see some further downside. This downside should be preceded by an upward move as we probably finished a WXY structure (in red) or we are close to finishing an ABC structure (in green).
DAX H4 | Rising into pullback resistanceThe DAX index (GER30) is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 15565.59 which is a pullback resistance.
Stop loss is at 15654.35 which is an overlap resistance that sits above the 50.0% Fibonacci retracement level.
Take profit is at 15454.00 which is a recent swing-low support level.
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DAX Under the 1day MA200 after 11 months!DAX / DE40 crossed today under the 1day MA200 for the first time since November 10th 2022.
In the meantime it also broke under the wide Channel Up pattern that was holding since the December 20th 2022 Low.
This is a critical bearish break out signal and closing a 1day candle under the MA200, confirms the extension to a new Low.
Support A is at 15455 (so far a Double Bottom), so it is better to wait for a sell until this level breaks.
If it does, sell the first minor bounce and target 15050 (almost -6% from the recent top).
Important note: The 1day MACD is also under a Sell Cross.
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DAX Bullish as long as the 1D MA200 holds.DAX (DE40) has been neutral on the 1D time-frame, trading sideways within the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) since August 03. We can see two clear Support and Resistance Zones. Today the price is approaching once more the 1D MA200, following yesterday's Fed Rate Decision, so it is a buy opportunity again. Target the bottom of the Resistance Zone at 16000.
Apart from that, the Fibonacci retracement levels since the July 31 High, make solid Supports and Resistances, with the 0.5 Fib currently being one.
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DAX Elliott Wave Analysis for Thursday 21/09/2023The primary scenario (in green) is now calling for a triangle as a wave (X). We are still missing the E leg before we break down as a wave (Y). The secondary scenario (in red) assumes that wave (X) is in and that we can expect more downside as a wave (Y).
DAX Elliott Wave Analysis for Wednesday 20/09/2023The primary scenario (in green) is now calling for a triangle as a wave (X). We are still missing the E leg before we break down as a wave (Y). The secondary scenario (in red) assumes that wave (X) is in and that we can expect more downside as a wave (Y).
DAX - Watch this mark!Hi Traders,
for the German Index DAX we clearly see a very important zone: 15.450
There are 2 possible Scenarios.
Scenario 1: He market accepts the support zone and we see a reversal. Then we can trade a pullback to 16.000.
Scenario 2: The Support will break. Then we expect sharp movement to 15.000 - following a pullback to the former support (which will then become resistance).
Next bigger support is for this case at 14.500
Right now the decision is open and we should also cleary watch the FED interest rate decision and conference tomorrow as German market often follows US indicies.
Wish you all great trades!
Team tegasFX
DAX Elliott Wave Analysis for Monday 19/09/2023The primary scenario (in green) is playing out and it looks like we finished wave (X). We can expect more downside as a wave (Y). The secondary scenario (in red) assumes more upside as a corrective wave B. That would mean we get an ABC flat correction instead of a WXY.
DAX: Pullback buy opportunity, very stable consolidation range.DAX formed a Bullish Cross between the 4H MA50 and MA100 but dropped sharply, the same kind of sell-off (proportionally) it had on the previous MA50-100 Bullish Cross (July 31st) which was a structured top. Opposite to theory, the Bearish Crosses have marked the bottoms.
In any case, the 1D technical outlook is neutral (RSI = 51.653, MACD = -44.700, ADX = 19.555) and that is largely due to the 0.236 - 0.786 Fibonacci range which has kept the index consolidating since almost the start of August.
Consequently any pull-back near the 0.236 Fibonacci would make an ideal buy entry. We will target a little under Fibonacci 0.786 (TP = 15,900).
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DAX Elliott Wave Analysis for Monday 18/09/2023The primary scenario (in green) is playing out and it looks like we finished wave (X). We can expect more downside as a wave (Y). The secondary scenario (in red) assumes more upside as a corrective wave B. That would mean we get an ABC flat correction instead of a WXY.
DAX bullish, all time high soonI can guarantee that Ger30 will climb to the top again, baisd on some candle I know , which I call hack or glitch
Good luck
DAX Index Is Forming This Decisive Ascending-Wedge-Formation!Hello,
Welcome to this analysis about the DAX Index in which we are looking at the 4-hour timeframe perspectives. In trading, it is always necessary to assess the market by a neutral perspective to come up with the most possible scenarios and move on with the opportunities resulting out of it rather than over-speculating the market into a one-sighted direction in which one does not have an exit plan and gets overwhelmed by circumstances when they show up. In this case, now I discovered a very interesting formation developing in the Dax Index and what are important factors, upcoming determinations, and aftermath-developments we should consider in this structure.
Structural Developments:
As when looking at my chart now we can watch there how the Index has emerged with this major ascending-wedge-formation in the structure marked in my chart with the black boundaries. Within this ascending-wedge the Index has the coherent wave-count with the waves A to E almost all already completed and now the index already showed up with an increased bearish pullback from the 15800 level in which it is testing and penetrating the lower boundary of the formation now again. Furthermore, it is necessary to register that the index moved below the 45-EMA marked in my chart in red which was previously support and is now a strong resistance by which a pullback is highly likely.
Upcoming Determinations:
Taking all these factors into the consideration the index is in a decisive situation now as when bearishness increases further in the near future this will lead to a breakout below the lower boundary and such a breakout, as it is marked in my chart, will complete the ascending-wedge-formation bearishly to the downside and the index will highly possibly move on with further bearishness to the downside. The final wedge-completion will activate the targets within the 14800 level marked in my chart in blue and when these targets are reached the situation needs to be elevated anew, it is also strong support therefore a stabilization in this structure has increased potential.
In this manner, thank you for watching my analysis about the DAX Index and the important decisive ascending-wedge-formation currently forming, great when you support it with a like and follow or comment, all the best!
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Information provided is only educational and should not be used to take action in the markets.
DAX Elliott Wave Analysis for Friday 15/09/2023 (+ Higher TF)For traders (lower timeframe):
The primary scenario (in green) is playing out and it looks like we finished wave (X). We can expect more downside as a wave (Y). In our move down, we should first see some upside as a wave ((b)) or wave ((2)). The secondary scenario (in red) assumes more upside as a corrective wave B. That would mean we get an ABC flat correction instead of a WXY.
For investors (higher timeframe):
In the higher timeframe, the higher level wave ((1)) is probably finished. There is also an alternative scenario where we can make one more high to finish wave ((1)). This wave ((1)) should be followed by a wave ((2)) to the downside which is an interesting buying opportunity for investors. The wave ((2)) is currently unfolding as a WXY structure. Investors should buy the Y leg.
DAX Elliott Wave Analysis for Thursday 14/09/2023The primary scenario (in green) is playing out and it looks like we finished wave (X). We can expect more downside as a wave (Y). In our move down, we should first see some upside as a wave ((b)) or wave ((2)). The secondary scenario (in red) assumes more upside as a corrective wave B. That would mean we get an ABC flat correction instead of a WXY.
DAX Elliott Wave Analysis for Wednesday 13/09/2023The primary scenario (in green) is playing out and it looks like we finished wave (X). We can expect more downside as a wave (Y). In our move down, we should first see some upside as a wave ((b)) or wave ((2)). The secondary scenario (in red) assumes more upside as a corrective wave B. That would mean we get an ABC flat correction instead of a WXY.
DAX Rebounding on this Support.DAX / Germany 40 is technically stuck inside the 1day MA200 (support) and 1day MA50 (resistance).
Friday's bullish reversal to close the 1day candle flat, paved the wave for today's green candle.
Following August's 18th Double Bottom that started the Rising Support (that has closed all candles over it), we expect a continuation of this rise, at least on the short term.
Buy and target 16045, which is a little under Resistance A.
Previous chart:
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DAX Elliott Wave Analysis for Tuesday 12/09/2023The primary scenario (in green) is playing out and it looks like we finished wave (X). We can expect more downside as a wave (Y). In our move down, we should first see some upside as a wave ((b)) or wave ((2)). The secondary scenario (in red) assumes more upside as a corrective wave B. That would mean we get an ABC flat correction instead of a WXY.
DAX Elliott Wave Analysis for Monday 11/09/2023 (+ Higher TF)For traders (lower timeframe):
The primary scenario (in green) is playing out and it looks like we finished wave (X). We can expect more downside as a wave (Y). In our move down, we should first see some upside as a wave ((b)) or wave ((2)). The secondary scenario (in red) assumes more upside as a corrective wave B. That would mean we get an ABC flat correction instead of a WXY.
For investors (higher timeframe):
In the higher timeframe, the higher level wave ((1)) is probably finished. There is also an alternative scenario where we can make one more high to finish wave ((1)). This wave ((1)) should be followed by a wave ((2)) to the downside which is an interesting buying opportunity for investors. The wave ((2)) is currently unfolding as a WXY structure. Investors should buy the Y leg.
DAX Trading plan within this 1H Channel DownDAX is within a Channel Down pattern on the 1H time-frame and just bounced back to its top (Lower Highs trend-line), hitting the 1H MA50 (blue trend-line) immediately. As long as the price remains within the Channel Down, sell and target the Inner Lower Lows trend-line at 15525.
With the 1H MACD just forming a Bullish Cross that high for the first time since September 01, it is equally likely to see a bullish break-out above the Channel. We will buy if it breaks above the 0.5 Fibonacci level, which should coincide with a 1H MA200 (orange trend-line) test. In that case our target will be 15940 (the 0.786 Fibonacci).
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