Dax: Potential top here...There's a nice short setup with defined and low risk in the Dax here. You can trade it with futures or CFDs, the stop is tight, you could use a stop over 12933 here for instance.
The recent daily uptrend signal that triggered 3 weeks ago ran out of time, and now we had a bearish reaction to resistance. Sentiment is getting out of hand, and there are very extreme things happening with euphoria from retail...FOMC might be a catalyst for a top for a while.
Cheers,
Ivan Labrie.
Fdxm
FDX approaching support, potential for a bounce!
FDX is expected to drop to 1st support at 169.76 where it could potentially react off and up to 1st resistance at 159.20.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
DAX: Sell opportunity on 1D.The index is still on a long term recovery within the 1D Channel Up (RSI = 58.547, MACD = 106.300, Highs/Lows = 0.0000). This time however 4H is on a Lower High sequence with 11,400 supporting this fragile set up. With the price already rejected just below the 11,686 - 11,838 1W Resistance Zone, we are expecting a stronger correction if 11,400 breaks. TP1 = 11,250, TP2 = 11,000.
** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. **
Comments and likes are greatly appreciated.
DAX: Short opportunity on overbought levels.The index is trading on a 4H Channel Up (RSI = 69.786, MACD = 72.000, Highs/Lows = 56.2642) that has crossed into the overbought zone (STOCH = 95.784, STOCHRSI = 79.387, Williams = -3.343). Since the price is too close to the 11,570 1W Resistance, we will take this opportunity to go short and target the first Support on 1D = 11,300. This is where the 1D Channel Up will meet its median, which if broken, it can seek a Higher Low at 11,100. We will update if we decide to follow it that low.
** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. **
Comments and likes are greatly appreciated.