EUR/USD: PAT + VPA 10/21/2024Good morning,
I will be monitoring the daily candle close today, anticipating a bullish pullback or reversal to develop over the next few weeks.
Several indicators have pointed to this:
1. The weekly chart has surpassed the previous high established on December 25, 2023. Currently, the price is attempting to retest the Demand zone that led to the breakout of that high..
2. The weekly demand zone is identified between 1.0775 and 1.0825. Pay attention to the key level at 1.080, as it appears to be setting up as a robust support level for the currency pair.
3. The market has declined approximately 400 points since September 27, 2024, showing minimal pullbacks on a daily basis. Notably, this price drop has formed a double top without a genuine next line test. I anticipate that prices will rebound to around 1.100 in the coming weeks. A break below 1.100 could trigger a long-term retracement back to the highs at 1.200.
Volume signature indicates that market makers are gradually exiting the trend. The weekly outlook remains bullish and is expected to dominate. It's important to note that the weekly chart is currently retesting the bearish flag it broke out of between June 24, 2024, and August 19, 2024.
TVC:DXY
OANDA:EURUSD
XETR:DAX
Daxanalysis
Germany DAX30 buy analysisAs the price didn't react to the area of value in 1H TF, So I think it is possible that the price come down again to touch our entry but it should NOT close below the low.
I'm waiting for a lower candle shadow that trigger our entry and then go up again.
we can set an order or wait for price to come to our zone and then look for a CHoCH in lower TF and then find an entry with more confidence.
Let's see what happens...
Dax Long position setupWe had a BOS to the down and then a CHoCH to the top.
Now we have to wait for a pullback, and I think this area has its potential to set an order.
This setup is in 4H TF, so also we can wait for the price to come into our area of interest and then wait for a CHoCH in lower TF like 15m TF and then find another entry zone...
DAX30/GER30 PREPARE TO SHORT ONCE THE PRICE HITTeam, I am waiting for the price to move toward our position to short.
We are considering shorting once the price hits below 18703-18697. The current price is at 18720
We assume the stop loss at 18775, but a safer stop loss level would be at 18817
Our target would be 18619.4. Please reduce or take profit from 50% to 70% of your volume at this price and trail your stop loss toward BE.
And second target is 18526
SHORT DAX40 at the current market price Team we are shorting the at the current price of 18556, you can use stop loss at 18613 or 18684
Target 1 at 18511.2
target 2 at 18422
target 3 at 18383
Please note: once the price hit the first target at 18511.1 take 50-60% volume
trail your stop loss to 18613. There will be a consolidated period between 18480-18555, so please be aware
LONG ENTRY DAX/GER40 at the current marketTeam, earlier today, we were predicting further down trend toward 18480. However, we wait for the price confirmation entry. we are long at 18573, stop loss at 18472.
Target 1 at 18692.80
Target 2 at 18809.20
Once the price break hit first target - take 50-70% partial and trail your stop loss to BE (entry level.)
DAX (GER 40).... BULLISH!Price has traded through the Swing High with a strong close above.
Now, price has pulled back into a +FVG.
The Daily +FVG is overlapped by the Weekly +FVG, a strong confluence.
The expectation is for price to continue higher to the next recent swing high.
May profits be upon you.
DAX to find buyers at market price?GER40 - 24h expiry
Price action looks to be forming a bottom.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
The primary trend remains bullish.
50 1day EMA is at 17765.
A Doji style candle has been posted from the base.
The corrective cycle lower looks to have stalled.
We look to Buy at 17830 (stop at 17730)
Our profit targets will be 18080 and 18160
Resistance: 17910 / 18000 / 18100
Support: 17800 / 17713 / 17600
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DAX short-term traders need to line up with longer time frameThe DAX daily chart has bullish elements to it, but the hourly traders have not synced up to them yet.
The weekly real yield is in uptrend, which should act as support for the USDOLLAR and as a headwind for the risk markets.
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