DAX Elliott Wave Analysis Higher Timeframe (07/07/2023)The pullback in the higher timeframe might have started. We discuss two scenarios that can play out. A shallow pullback as a wave (4) or the start of a deeper pullback as a wave (2). Investors better wait for more downside before buying again. Traders should wait for more data and analyze the lower timeframe.
D-DAX
Will DAX continue to selloff?GER40 - 24h expiry
The bearish engulfing candle on the weekly chart is negative for sentiment.
Short term bias has turned negative.
There is no clear indication that the downward move is coming to an end.
We are trading at oversold extremes.
We look for a temporary move higher.
Previous support at 15750 now becomes resistance.
We look to Sell at 15749 (stop at 15849)
Our profit targets will be 15501 and 15451
Resistance: 15575 / 15750 / 15850
Support: 15492 / 15400 / 15300
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
DAX Elliott Wave Analysis for Thursday 06/07/2023We discuss two scenarios that could play out today. Traders should be long already and protect their trade. Today there might be an opportunity to enter a new long trade. However, traders should be careful as a pullback is expected in the higher timeframe. This means every high can be your last high.
DAX Elliott Wave Analysis for Wednesday 05/07/2023We discuss two scenarios that could play out today. Traders should be long already and protect their trade. Today there might be an opportunity to enter a new long trade. However, traders should be careful as a pullback is expected in the higher timeframe. This means every high can be your last high.
DAX: Entered a short term accumulation phase ahead of the next rDAX hit the 4H MA200 again after a much needed technical pull back that helped at correcting last week's overbought technicals on the 4H time frame (RSI = 48.684, MACD = 21.500, ADX = 34.751). This is a similar structure as early June, when the 4H MA200 (and 0.382 Fibonacci) offered support to a 4 day accumulation phase before the bullish leg made a Higher High on the Channel Up pattern.
We are entering a new buy on the current market price, targeting the top of the Channel Up (TP = 16,500).
Prior idea:
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DAX40 Crash - Short Signal - Swing TradingDAX40 is about to crash. A BIG short trade is pending its turn.
Germany40 Index (GER40, GRXEUR, GER30) is trapped in a Bearish stance.
Fundamentally, many things are against a Bull-Market at these times, but I mentioned that in my VIX spike idea.
From a Technical Analysis standpoint, well, the picture is much clearer.
Technicals:
* A-B-C Elliott Wave Sequence
* Running Flat Pattern
* Bearish Harmonic: Cypher Pattern
* Fractal Pattern: May-Dec '18 Sequence
* Reversed Bearish Divergence
* Bearish Divergence
* Descending Channel
* 61.8% Fibonacci Retracements of Primary A (red)
* 88.6% Fibonacci Retracements of Intermediate (B) (white)
* 100% Fibonacci Extensions of Intermediates (A) & (B) (white)
Expected Outcome:
* Powerful Bearish Impulse in Primary C (red).
Trading Signal:
* Entry @ 14550
* SL @ 15800
* TP1 @ 11200
* TP2 @ 9750
* TP1 @ 9000
Safety Measures:
* When in the green, moving stop-loss at break-even.
Trading week recap for NASDAQ, DOW, DAX & FTSE (01/07/2023)We had successful trades with the NASDAQ and the DAX. Let's look back at the past trading week and learn from it. What went well? What could be better?
This is an experiment. Educational content to become a good waver. If you like this video, please let me know by commenting. Any suggestions? Please let me know.
Something went wrong with the recording for the last part on the FTSE. We continue the analysis on Monday.
DAX to turnaround at previous resistance?GER40 - 24h expiry
Our short term bias remains negative.
The bearish engulfing candle on the weekly chart is negative for sentiment.
Bespoke resistance is located at 16070.
There is no clear indication that the downward move is coming to an end.
Preferred trade is to sell into rallies.
16081 has been pivotal.
We look to Sell at 16039 (stop at 16139)
Our profit targets will be 15789 and 15739
Resistance: 16000 / 16070 / 16120
Support: 15931 / 15860 / 15800
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
DAX First strong buy signal after 1 monthDAX is testing the MA50 (1d) following a rebound on the MA100 (1d).
That was also the bottom of the short term dashed Channel Up as well as the medium term yellow Channel Up.
Technically this is the strongest buy opportunity since May 31st.
Trading Plan:
1. Buy when a (1d) candle closes above the MA50 (1d).
2. Sell if it closes under the Channel Up.
Targets:
1. 16500 (top of the short term Channel Up).
2. 15450 (bottom of the long term dotted Channel Up).
Tips:
1. The RSI (1d) hit its Rising Support level. Additional buy indication.
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Notes:
Past trading plan:
DAX H8 - Long Signal (Update)DAX H8
We pushed almost as high at 16000 before seeing a slight rejection, corrections possible, infact another test of 15700 isn't out of the question. Simple longs from this support zone again if this is the case.
16000 being quite a prominent psychological resistance price. We have a void of 285 pips to take us up to our major resistance and ultimate TP.
29062023 - #DAXYesterday's speech has no impact. Basically it was a simple basing at PZ then rally day. Lowest price was at open as it rallied then base then rally. There was some resistance during US session but it did not do much to DAX, finding support at the BZ and moving higher. I was much bullish indices yesterday except for the unknown speeches by BOJ and price action is just playing out as it is.
Price is much overbought which is a "concern" but other than that today could be another strong up day with 16130 as a possible target/strong resistance.
DAX is rebounding on the 1day MA100. Bullish.DAX is on the 2nd straight green day after the rebound on the 1day MA100. That was also a Higher Low at the bottom of the mid-March Channel Up.
Buy and target Resistance A (16440).
Sell if a 1day candle closes under the 1day MA100 and target the bottom of the December 2022 Channel Up at 15310, where you can take an even lower risk buy.
Previous chart:
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28062023 - #DAXI was bullish DAX yesterday based on price action but was expecting a dip, but instead it went up first, perfectly to a multi-confluence strong resistance and made a triple top there before it came down. PZ was an initial support and gave an initial bounce but sold off to new lows but with bullish divergence and that was when market gave the huge rally.
But what was interesting is how market, especially the US futures opened and came down with bearish divergence for SPX. Another sell down like last Friday? I am quite neutral overall on this TBH. But price action points to further upside. Any dip above 15830 (could reach there) should be bought up for a move higher. Of course, there are 2 BZ above acting as resistance but IMO once those break can see 16032 and above.
DAX Will Move Higher! Buy!
Take a look at our analysis for DAX.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 15813.75.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 15987.17 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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