Ger30 ShortGer30 Short potential
Short it now
The GER30 daily chart is trading in its bullish channel between its upper blue and red bands. It RSI is trading above 50 (green rectangle). The longer it maintains on the bullish side of 50 the greater the probability of higher prices ahead.
The hourly chart shows a strong start to today's trade. The trend following EMAs and the momentum-based stochastic have turned up (black ellipses). If the stochastic makes its way to the 80+ levels (blue arrow) and holds it will denote a strong underlying bullish momentum is present.
DAX Index
xDAX forecast 04/11/23
For the 11.04.23 we see the following trend reversal zones:
Up 3 15,674
Up 2 15,656
Up1 15,612
MoB 15,594
Down 1 15,584
Down 2 15,536
Down 3 15,518
5 days Trend barometer
The signal changes back from neutral to bearish again.
Technical Assessment
There is nothing more to add to the working theses published in the past few days. We continue to wait for the XETRA GAP close and the completion of the bearish pattern before we get back to the content of the technical chart analysis.
The fluctuation ratio of 1.228 signals a bullish bias in the 15,674.29 / 15,535.69 area.
We see the flipping point ( Sigma n1 ) at 15,715 or 15,480.
This means that from these zones onwards, self-reinforcing reactions UP and DOWN can occur.
Technical stops
UP DOWN
261.80% 15,978 15,162
200.00% 15,881 15,259
161.80% 15,822 15,318
138.20% 15,785 15,355
127.20% 15,768 15,372
100.00% 15,726 15,414
88.60% 15,708 15,432
76.40% 15,689 15,451
61.80% 15,666 15,474
50.00% 15,648 15,492
38.20% 15,629 15,511
23.60% 15,607 15,533
14.60% 15,593 5,547
MOB 15,570
Note
nothing has to be - everything can
A rolling, volume-based trend-following system is used to create this forecast, which was determined using mathematical-statistical methods and partially enriched with technical chart content
Forecasts are what they are: a look into the future, including the past, which can change dynamically, positively or negatively, from the time of publication
Will DAX continue to breakdown?GER40 - 24h expiry - We look to Sell a break of 15529 (stop at 15649)
We are trading at overbought extremes.
Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
The bearish engulfing candle on the daily chart is negative for sentiment. Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A break of the recent low at 15479 should result in a further move lower.
We look for losses to be extended today.
A higher correction is expected.
Our profit targets will be 15229 and 15179
Resistance: 15660 / 15740 / 15800
Support: 15552 / 15500 / 15370
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 formed the 1st Golden Cross in 3 months.DAX completed a Golden Cross pattern on the (4h) time frame, the first such occurrence since January 10th.
The RSI (4h) has pulled back considerably, harmonizing the overbought conditions of last week.
Trading Plan:
1. Buy on the current market price and as long as it stays over the MA50 (4h).
Targets:
1. 16000 (+11.00% rise).
Tips:
1. RSI (4h) is copying the bullish leg of of December 16th-January19th. Some room to pullback more and off a new High.
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Notes:
This is a continuation of this trading plan:
GER40 to breakdown at overbought extremes?GER40 - 24h expiry -
We are trading at overbought extremes.
Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A break of the recent low at 15551 should result in a further move lower.
We look for losses to be extended today.
A higher correction is expected.
We look to Sell a break of 15598 (stop at 15718)
Our profit targets will be 15298 and 15248
Resistance: 15660 / 15740 / 15800
Support: 15552 / 15500 / 15370
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 momentum has stalled at 2023 highs.GER40 - 24h expiry -
We are trading at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
15708 has been pivotal.
A higher correction is expected.
Rallies should be capped by yesterday's high.
We look to Sell at 15699 (stop at 15819)
Our profit targets will be 15401 and 15341
Resistance: 15662 / 15708 / 15800
Support: 15550 / 15470 / 15350
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 This wave still has room to riseDAX has gone a long way since our buy recommendation 2 weeks ago (see chart below). The technicals on the 1D time frame are firmly bullish (RSI = 60.575, MACD = 68.200, ADX = 31.986) and the RSI in particular is out of its Buy Zone and approaching the top of the Channel Down.
The index is trading inside a Channel Up for exactly 5 months and every bullish wave has so far been within 11.50% - 11.85%. If it rises by +11.50% again from the recent bottom, then we are looking at a target price around 16,130. Our TP is 16,000.
It is important to keep in mind the long term dynamics on DAX and what stands out in particular is how perfectly the 1D MA100 supported March's correction. In fact, DAX hasn't closed a 1D candle under the 1D MA100 since October 24th 2022.
Prior idea:
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DAX is bullish and going for a Higher HighDAX is trading inside a Channel Up and crossed today over both the 4hour MA200 and the Pivot Zone.
The 4hour MA50 is supporting (same with the RSI being on a Rising Support) and as long as it does, the Channel Up will be going for a Higher High.
Buy and target the 15700 Resistance but keep an eye for an RSI peak near 70.00.
Previous chart:
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Elliott Wave Favors DAX Rally to FailCycle from 9.28.2022 low has ended as a 5 waves impulse at 15706.51. We labelled this rally as wave ((1)) as the 1 hour chart below shows. Wave ((2)) pullback is currently in progress to correct cycle from 9.28.2022 low. The decline from wave ((1)) peak on March 7, 2023 is unfolding as a double three Elliott Wave structure. Down from March 7, 2023 high, wave ((a)) ended at 14664.17 and rally in wave ((b)) ended at 15153.11. Final leg wave ((c)) lower ended at 14458.39 which completed wave W in higher degree. Wave X rally is now in progress to correct cycle from 3.7.2023 high with internal subdivision as a zigzag structure.
Up from wave W, wave ((a)) ended at 15298.49 and pullback in wave ((b)) ended at 14809.82. Wave ((c)) higher is in progress to retest wave ((1)) high at 15706.51 before the Index turns lower. A 100% Fibonacci extension of wave ((a)) comes at 15644.18 which is a possible target for wave ((c)) of X. Near term, as far as pivot at 15706.51 high stays intact, expect the rally to fail and the Index to resume lower again.
GER30 Sell LongSupport occurs where a downtrend is expected to pause due to a concentration of demand.
DAX to turnaround at trend line resistance?GER40 -
Our short term bias remains negative.
We are trading at overbought extremes.
Trend line resistance is located at 15350.
Short term momentum is bullish.
Prices expected to stall near trend line resistance.
24h expiry - We look to Sell at 15359 (stop at 15479)
Our profit targets will be 15059 and 15009
Resistance: 15200 / 15300 / 15400
Support: 15100 / 15000 / 14900
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.
FDAX UpdateIndicators are neutral, but it hasn't hit oversold yet so there's a possibility of a gap down Monday despite the bullishness in the US market today.
the US market probably wants to gap up but the Euros dictate the gap direction much like this morning. I am planning on carrying a relatively small long position over the weekend.
As I said earlier in my ES post, expecting a whipsaw finish today.
Kinda tempted to add some IWM (small cap index) to my retirement account, I think there will be a garbage stock short squeeze next week. I don't recommend investing directly into garbage like PTON or AFRM, lol. Bad news can tank an individual stock.
DAX to breakdown?GER40 -
Our short term bias remains negative.
The bias is to break to the downside.
News events could adversley affect the short term technical picture.
A higher correction is expected.
A break of the recent low at 15069 should result in a further move lower.
Our profit targets will be 14759 and 14709
22h expiry - We look to Sell a break of 15059 (stop at 15179)
Resistance: 15200 / 15306 / 15400
Support: 15160 / 15070 / 15000
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 Double Buy entryDAX is now between the MA50 (4h) and MA200 (4h) after it failed to cross over the latter on this Fed day.
It was rejected on Zone 1 of the previous Lower High.
There are another two such Zones on display, both potential Supports around key Fibonacci levels.
Trading Plan:
1. Buy on Zone 2 (Fibonacci 0.382).
2. Buy on Zone 3 (Fibonacci 0.236).
Targets:
1. & 2. 15700 (Resistance 1).
Tips:
1. The RSI (4h) is rising steadily on Higher Lows (Rising Support). This is an additional level that can indicate a buy entry if it matches one of the above.
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DAX: Beam us up, Mr. Scott! 🖖Happy Birthday, William Shatner! Consistent with the great day of the actor playing Captain James T. Kirk in Star Trek , DAX was also beamed up – and considerably so. From the low of wave iv in pink, the index has shot upwards by about 5% and should still continue the ascent above the resistance line at 15 703 points, where it should complete wave 1 in blue. However, a 35% chance remains that DAX could slip below the support line at 14 617 points. In that case, the index would first develop wave alt.iv in pink to establish a new low in the pink zone between 14 299 and 13 863 points before moving upwards again.
DAX to see early optimism?GER40 -
We are trading at overbought extremes.
Short term bias has turned negative.
A higher correction is expected.
News events could adversley affect the short term technical picture.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
24h expiry - We look to Sell at 15466 (stop at 15586)
Our profit targets will be 15166 and 15116
Resistance: 15271 / 15400 / 15480
Support: 15200 / 15080 / 15000
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 pausing the rally ahead of the Fed. Buy the pullback.DAX crossed over the Falling Resistance of the early March High and the 4hour MA50. It also reached the Golden Ratio: Fibonacci 0.618.
This is a bullish breakout but ahead of the Fed Rate Decision tomorrow, it is more likely to see traders taking a neutral stance.
Buy the pullback up to Fibonacci 0.382. Target the Top at 15700.
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