GER 30 (17/12/20)Sometimes you will find it is difficult to identify the wave structures in detail. The best way to overcome this issue is to calculate the number of waves that appear in the chart. if 7 or 11 that means the wave is a corrective wave. If 9 or 14 that means impulse wave. In DAX I found 7 waves which means the corrective wave is about to complete but there is a small triangle that motivates me to buy it and targeting a new top which is a missing wave in the impulse structure.
GER30 CFD
DAX - broken supportGerman index DAX has broken first potential support at 13167. It has been set by the equality of the corrective movements. Currently the market is at the next potential support set by previous local lows near 13000 pts.
If it is broken we may expect a larger correction with key support set by the bullish gap and by the 38,2 Fibo retracement. It could also be a potential right shoulder within a huge inverted head and shoulders pattern.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
DAX - below resistance and above supportThe DAX index has tested first potential support at 13170 where the equality to previous correction is set. We are talking about one to one correction or running correction. It seems that only a move below this level may open the way to the next potential support set by 23,6 Fibo retracement or the bullish gap near 38,2 Fibo retracement.
However, the German index is also below key resistance at 13452. It seems that only a move above it may be a potential signal for the buyers to continue the recent rally.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
GER30 (DAX) long term analysisWe see here the Dax since the 1970's. At the beginnig we have a clear 5 wave impulsiv structure. At the beginning of the new Millenium this structure change to a corrective one. But at this time I could count it also as an impuls. The clearest indication for a corrective structe is the Wave from 09/2011 to 05/2014. I do my best to count this wave as an impuls but it was not possible. Nevertheless the market rise in this time. The only logical interpretation was for me that the Dax is from it's beginning in a corrective structure. The most important question now is whether the coronalow is already the connecting X to the next rising wxy (38.2 RT was hit) or whether the market has just completed a W and we can still expect a Y, which brings a new low.
$DAX weekly doesnt look sustainable $DAX weekly doesnt look sustainable given the vertical moves in the past have all corrected heavily . EURUSD advance is negative for germany exports
ridethepig | DAX sufferingAn interesting development on DAX after the planned highs last week. We will go through what does it mean, how is this an advantage to sellers and when is it appropriate to add to the position. The same focus can be applied across the global equity board.
Resistance can also be conceived with the presence of stimulus; but total restraint, which reigns from lockdowns stretching into another 3 weeks for Germany will give buyers breathing difficulties...To what extent, should we ask, is this an advantage that we can capitalise on and how unpleasant will that be for buyers?
Our very short-term range is +/- 15% ... so although from a timing perspective we are compact, the yield connected with such a wide range is apparent. The main mid-term and long-term range is even clearer:
📍 Rule: when loading on the short-term understand the position our opponent poses in the mid and long term, to further understanding of scope and whether taking the position is worthwhile..
With this in mind, in the long-term macro chart in euro I posted back in 2018... yes 2018... it was about buyers attempting to trap their opponent into a selloff before continuing the legs higher.
With a completion of the moves in euro, the formation of the hammer in Germany equities can finally advance with 1.20xx and 1.21xx cleared. But there is no-stopping the digital euro into 2021 and thus the attempt to cancel the currency remains under pressure:
As well as active pressure from the currency, there is also the concept of lockdowns and further static economic growth from Germany. We must distinguish from whether this is a short lived -15% selloff or a sustained economic cycle down. Send the troops, time will tell.
Thanks as usual for keeping the feedback coming 👍 or 👎
DAX - the test of important resistanceThe German DAX index has reached the highest level since the beginning of September. The area of 13452 pts. could be a strong resistance that has stopped the bull run in the past.
What is more, in recent days the market has created a shooting star candlestick pattern with relatively high volume. Now the volume seems to be falling when the market tries to stay near highs. If the support at 13280 is broken we may expect a downward movement with a potential target at the bullish gap of 12661 pts.
The downward movement may be also confirmed by the MACD indicator which is about to fall below zero after the crossing of its averages.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Dax30 run out of fuelAs with all indices, since US election, Dax had a good run-up of 2000 point or almost 20%.
Now the index looks like running out of fuel and a drop to 12500 is possible.
I don't rule out a spike up towards 14k, but this in my opinion will be short-lived and can be used as a good entry point for sellers
DAX Buy SignalPattern: Channel Up on 4H.
Signal: Buy once the price approaches the 4H MA50, which has been supporting since November 19.
Target: 13500 (+1.75 projected rise from the 4H MA50 contact).
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Trading The STOXX600 & GER30 Vs Manufacturing PMI DataIn this video, we take a look at how Manufacturing PMI data in Europe and Germany is used by the investment community to know when to buy or sell stocks with the European region.
This economic indicator is a powerful tool we can use to a clear idea as to the expected performance of the German 30 index and STOXX600 Index.
Manufacturing PMI data is available on investing.com on the first week of each month.
DAX30 Short Idea DAX30 shorting idea fiboretreacement. Please consider your own Levels risk. Good Luck
Wirecard`s lowest lowfrom 200 to 0.51
Almost 400X
63.674M Market Cap
If it doesn`t bounce from here, then when?
DaxMassive bearish divergences occurring.
Month of Dec will be bearish I believe and ill be loading shorts from between a range of 13200 - 13300
