DAX Buy SignalPattern: Channel Up on 1H.
Signal: Bullish as the price made a Higher low.
Target: 12990 (Resistance) and 13100 (extension for risk seekers).
Daxsignals
DAX: Targeting 13,600 on a possible band shift.DAX has been trading within a long term 1M Channel Up (RSI = 58.539, MACD = 225.500, Highs/Lows = 732.5857) since the December 2018 bottom. From January until July the price traded on the upper band of the Channel and then it made a bottom on the lower band. That essentially started a new Channel Up within the lower band until now that we had a contact with the Channel's mean.
If the price breaks and closes on the 1D time frame above then a new aggressive sequence may start on the upper band again that should easily hit the 13,600 All Time High (ATH). If not, then a pull back to the previous High (as it happened in March) will serve as a buy zone for a more sustainable rise to 13,600.
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DAX Buy SignalPattern: Channel Up on 1H.
Signal: Bullish as it made the low repeating the Oct 14 sequence.
Target: 12750.
DAX Buy SignalPattern: Potential Channel Up on 1D emerging.
Signal: Bullish after the pattern made successive Higher Lows.
Target: Short term = 11840 (Just below the 1D Resistance), Medium term = 12000 (potential contact point with the 4H MA200).
DAX Buy SignalPattern: Channel Up on 1D.
Signal: Bullish as the index touched the MA50.
Target: 12,600 and 12,800 (if it touches the lower Higher Low support).
DAX Long term Buy SignalPattern: Golden Cross on 1D.
Signal: Bullish as the price action is following the 2016 pattern. Same bounce on the MA200.
Target: Depends on your trading horizon. 13200 ATH with 14000 as an extension are fair targets.
DAX Conditions for a medium term buyPattern: Inverse Head and Shoulders on 4H within a 1D Channel Down.
Signal: Bullish if the Lower High trend line breaks (green bold line) and as long as the Support Zone indicated holds.
Target: 12300 (the 1D Resistance).
DAX Buy SignalPattern: Channel Up on 1W.
Signal: Bullish as the price rebounded on the Channel's Higher Low.
Target: 12600.
DAX Double Sell SignalPattern: Channel Down on 4H.
Signal: Bearish after a Lower High rejection today.
Target: 11,855.70 (4H Support).
*Note: If 11,800 breaks, the 1D Channel Up can technically reach its Higher low at 11,620.
DAX Sell Signal (4H H&S)Pattern: Bearish Head and Shoulders on 4H.
Signal: Bearish after the neckline's Resistance rejected the price.
Target: 11260 (symmetrical legs).
This is my long term outlook:
DAX Big Sell SignalPattern: Channel Down on 1W.
Signal: Bearish since the price is near the pattern's Lower High.
Target: TP1 11215, TP2 11050.
*Note: The same pattern took place in 2015/ 2016. After the 5th wave on the Lower High the index pulled back to its 0.5 Fibonacci and then broke the Channel upwards.
DAX Sell SignalPattern: 1D Channel Up.
Signal: Bearish as the price has been rejected on the 1W Resistance.
Target: 11380 (the Channel's Higher Low).
