DAX tested again today the 1D MA50, which is the Support since the July 12th Bullish breakout, and reacted with a rebound. With the 1D timeframe neutral (RSI = 54.688, MACD = 65.900, ADX = 24.550) this holding of the 1D MA50 translates to a buy opportunity. In addition, the 1D RSI crossed over its Channel Up. We are long, targeting the HH trendline (TP =...
DAX is on a marginally bullish 1D timeframe (RSI = 56.008, MACD = 24.500, ADX = 26.521), which indicates that there is still significant upside potential to the rebound that started on the July 7th Low. That Low may have been a HL on the long term Channel Up but also a LL on the two month Channel Down. The 1D RSI is also at the top of its Channel Down, so in order...
DAX is rebounding after a -4.60% decline that turned the 1D timeframe bearish (RSI = 42.197, MACD = -69.700, ADX = 37.228). Even though that decline hit the bottom of the long term Channel Up, we focus more on the short term where after similar declines in the past two months (both -4.30%), the price rebounded to at leastthe 0.618 Fibonacci level. Consequently we...
DAX 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...
DAX turned technically bearish on the 1D time frame (RSI = 42.479, MACD = 3.900, ADX = 32.769) with the RSI approaching the lows of March 17th. This is our first long term buy entry as the price is not only at the bottom of the (blue) short term Channel Up but also testing the 1D MA100 for the first time since March 20th. If the price closes a 1D candle under the...
DAX is trading inside multiple short and long term Channel Up patterns, an indication of a strong bullish trend, showcased by the green 1D technicals (RSI = 59.394, MACD = 107.100, ADX = 32.591). As long as the 1D RSI stays over the MA line, we remain bullish (TP = 16,500). If it breaks under it, we will target first the dashed Channel bottom (TP1 = 16,000) and...
DAX is on the 4th green 1day candle in a row, extending the spot on buy entry we gave 2 weeks ago exactly at the bottom. The 1day RSI is on balance bullish levels (62.31) and shows still upside potential while there is still room left before the Channel Up makes a Higher High. That will be at a +6.30% rise from the Low, as previously taken place. Target remains...
DAX is trading around the 4H MA50 and 4H MA200 with technicals naturally neutral (RSI = 52.802, MACD = 10.300, ADX = 21.396) as on any consolidation. The pattern that was completed (inside the long term Channel Up) is an Inverse Head and Shoulders. Technically such formations target the 2.0 Fibonacci. Our plan is to traget the R1 initially (TP1 = 16,335) and then...
DAX hit today the bottom of the short term Channel Up. This is inside a larger Channel Up pattern that started during last year's market bottom. As long as it holds, especially the 1day MA100, buy and target 16600 on a +6.34% repetition of the first short term Channel Up rally. If the price closes under the 1day MA100, sell and target the bottom of the long term...
DAX has turned neutral after the 16340 top and the subsequent test of the MA50 (1d). As long as those two levels hold, it will remain sideways with no action to take. The long term pattern is a double Channel Up. Trading Plan: 1. Buy if the price closes over Resistance (1). 2. Sell if the price closes under the MA50 (1d). Targets: 1. 16750 (top of Channel...
We have stated before that DAX has been trading inside a five month Channel Up, getting a comfortable buy at the bottom of the pattern. With the help of the 1D MA100, the price has been rising for the past month, trading for more than 2 weeks over the 1D MA50 as well with the 1D technicals now on deep green values (RSI = 61.499, MACD = 135.500, ADX = 52.061). We...
DAX 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...
Hi, and welcome to Friday's update. In today's video, we are focusing on the GER30 daily chart. Price action and the OBV indicator are starting to show signs that sellers could be gaining short-term control over the market. Looking at price we can see that buyers made a failed breakout attempt, and sellers came in strong on the next session with an engulfing...
OANDA:DE30EUR DE30EUR 2021 Feb 08 Week (Intraday) Green/Red zones = preferred entry zone D1 chart showing weakness - shortening of thrust observed - price advancing on decreasing volume H4 chart similarly showing price advancing on diminishing volume Also note the narrow range bars as it approaches the high. if price forces through resistance and show...
FIRST~: PLEASE CHECK YESTERDAY'S IDEA So, the chart never lies: the resistance level we had calculated acted perfectly , as the price dropped as soon as it was checked. Our stop loss is now at entry point and we are expecting to see (hopefully) the drop further down. Most importantly: DO YOU HAVE A TRADING STRATEGY? Drawing a chart is part of the success but...
This post is just for information purposes. Entries signal after confirmation.
I would buy next long position above 13,226. The goal would be to get SL quickly to entry Point Greeting from Hannover Stefan Bode