GER30-DAX
DAX. Posible retest 11500 >> then long up to 11700ish ??If I got it correct with wave 3 finished ?, then down > retesting 11500ish in wave 4 (it could go some lower, but...), and a last try for higher prices in wave 5 >> 11700ish .
I will more call this like a guessing for now , for coming price movement. Don't bet on it, make sure u have u'r own analyze too, that will be u'r own reason for what u do in u'r trading.
VIDEO TRADE ANALYSIS: DAX (GER30) TO FALL In this video update, we take a look at the Dax (Ger30) index as price has stalled at a key weekly resistance level.
With growing concerns over the economic slowdown in the Eurozone, the indexes could suffer.
Dax 4hr chart shows price changing cycle which could lead to further downside.
Either a triple top or an inverted H&S: Crucial week1) Most indices retraced 50%, and we are at a very important turning point: if indices breakout cleanly there resistance (for instance SP500 at 2610.8, among other ones) then I would reassess my short bias as we would go back to potentially bullish territory (however, this would mean that the world and its economy become rosier --- no more issues!). The DAX could then retrace everything back up and reintegrate previous broken support levels.
2) In case it doesn't work out, then a triple top could be validated if a clean breakout occurs as well. We could retest all the leg down (80-100%). As volume is decreasing, I believe we had fake rallies and simply witnessed a great technical bounce (see monthly charts) while retracing a down run on US indices.
We shall see, everything has to be decided tonight and in the following days in my humble opinion.
GER 30 (DAX) LongHi,
Long Ger 30 (Dax). Price is very near first "Major" Support. There are many "Major" Trendlines (_______) Support below current price. NoOne "Major" Trendlines (_______) Resistance above current price. Only a "Minor" Trendline (_ _ _ _ _) Resistance. Even if Risk Off, prices should probably retest "Minor" Trendline (Resistence) (_ _ _ _ _) before go again towards first "Major" Trendline (Support) to try to break it.
P.P.P.
Ger 30 : At Trendline SupportDAX is sitting at the trendline support -- if it breaks then next support will be 12100 but the DAX is out of sync with SPX500. Lets wait & watch how DAX plays out if it breaks the recent low of 12100 it would be the signal to go short on every rise or if it plays catch up with SPX500 rally !!
GER30 Short Trade SetupHello traders.
DAX has some big potential for downside. As I can see the correction is an expanding flat in 1D timeframe. It can still keep going up because we don't have any divergence in 1H in up impulse. But, when it completes the C wave, it will go down. Of course, there are some other options, so down move can be a correction instead of an impulse. The idea here is to take the trade, move the stop-loss, and let it show its potential.