GER
DE30 Sell a Break setup.GER30 - Intraday - We look to Sell a break of 13559 (stop at 13669)
Daily signals for sentiment are at overbought extremes.
A higher correction is expected.
We look for losses to be extended today.
A break of 13560 is needed to confirm follow through negative momentum.
Pivot support is at 13220.
Our profit targets will be 13252 and 13151
Resistance: 13730 / 13900 / 14000
Support: 13560 / 13420 / 13200
DAX - Sell Setup: The index collapsed following the global economic meltdown. We are currently seeing a possible retest of the 38% fib level after being rejecting at the 50% level, indicating weakness in the buying forces in the markets.
Trade: Selling the index at the current level, setting the SL slightly above the last high at the 50% fib, and the TP at the corresponding -61.8% level.
DAX (GER 30) is close to the Support/Resistance Zone.The H4 candle closed above the Support/Resistance Zone and its a huge probability that it will rise up!
- The trend is bullish;
- The price made a false breakout;
- Potential profit will be 3 times bigger than the risk.
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DAX-30The DAX (Deutscher Aktienindex (German stock index)) is a blue chip stock market index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange. Germany is the strongest economy in Europe. But in Europe is not very good there are more indebted debtors Greece, Italy, Spain ..., England has already fled the sinking ship. And the situation in the European Union will deteriorate. On technical analysis, showed the wave theory of the Elliott. We paint the fifth wave and after down the ABC correction. At the top showed a yellow line of resistance that with a black support line makes an rising wedge - a reversal pattern.
DAX 30 Deutsche Aktienindex ~10 Year log trendChart of a ~10 year-ish long trendline on DAX 30. Do trendlines mean anything? Maybe. Maybe not.
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Dax - day viewTwo possible scenario for DAX.
We closed two gap.
Retest last high and continuation bullish scenario (blue arrows).
Or we will break the minimum of the last week and continue moving down (pink arrows).
Let`s see.
I will comment on the idea, as events unfold.
Thank you for your attention.