GER30 POTENTIAL WAVE DOWN CONTINUATIONGER30 seems in the middle of a long term corrective structure. I'm expecting a pullback for one more wave down.
Germanindex
Target hit. 1D bearish reversal. Short.TP = 12,550 hit as the 1D Channel Down (RSI = 42.259, MACD = -17.900, Highs/Lows = -20.1645, B/BP = -179.2980) made a near 12,600 Lower High. The index has now resumed the downtrend and should attempt at least another 12,100 1D support test. Our initial target is 12,130 and if 12,100 is crossed we will continue with a TP = 11,877 with the SL on profit to ensure the profit. Notice now the price made the 1D Lower High exactly on the blue resistance curve, which on a 1W scale is the right shoulder of the very long term 1W Head and Shoulders formation.
Target hit. Now waiting for 1W Lower High test. Long.TP = 12,500 hit as the 4H Channel Up (Highs/Lows = 40.1429, MACD = 32.900) continued rising following the 1D Double Bottom two weeks ago. 1D is now on Lower High territory (RSI = 49.327) and we are looking to extend our buying strategy towards the potential Lower High of the 1W Channel Down, which should be around 12,620. Our extension TP remains 12,550 and we will update upon the test of the Lower High.
Target hit. Approaching a new Lower High. Long.TP = 12,355 hit as the 12,080 1D support was kept intact and DAX made a Lower Low on its Channel Down (RSI = 46.830, Highs/Lows = 0.000). Currently the price is even above our maximum expectation of 12,400, so attention is required as we approach 12,510. Since the 12,080 support was respected, at least on the short term, the index should technically approach 12,600. We expect to utilize the bullish momentum built on 4H (RSI = 60.708, Highs/Lows = 101.6429) and as a result we are again going long with TP = 12,500 and 12,550 in extension.
DAX..... Heading down south?The German leading index charged through a daily trend today fueled by the escalating news from Turkey.
As you can see we're closing in on the trend line that was formed in 2016 after the "15-16 sell-off".
With the 10 day RSI indicating "oversold" a rebound to the previous trend line (12350) is a possibility after which I'm expecting another down turn and breaking the 2016 trend.
Another possibility is that the DAX keeps on steaming through and breaking the trend in one go.
Once it manages to break I expect the support at around 11850 to hold it's ground.
If it looks like the 11850 support is gonna break as well I'm gonna have to follow up on this post with new targets/possibility's.
Keep in mind we're living in interesting times with the " Trade wars" and "Future crisis" looming around every corner.
P.S. I'm not telling you what to do always cross reference with you're own analysis. I'm not responsible for your loss.
P.P.S Any thoughts/feedback is always appreciated!
Head and Shoulders nearly complete. Wait for confirmation.DAX is about to complete a very long term Head and Shoulders pattern on the Monthly chart, thus the neutral RSI = 51.621, ADX = 29.826. 1D is a Channel Down formation (RSI = 34.363, MACD = -73.300, Highs/Lows = -357.2500, B/BP = -455.2462), which if the 12,080 support from the previous Lower Low breaks, will hit 11,900. If it is rejected, then it will rebound to form a new Lower High near 12,400. We use this support as a break-out confirmation point (crossing = short with TP = 11,900, rejection = long with TP 12,355.
Siemens AG putting in the last leg of a major cycleWhen blue-chip large-cap stocks complete cycles, they are often "canaries in the coal mine" for the entire index they're part of. German public market investors should invest cautiously going forward, since a major market correction is likely to occur this year.
Daily MailiGood morning Daxers. Daily chart. Lets watch the Monster.
I'll look for some retrace before complete this 5 wave up.
Drive Safe.
DAX H&STake a look at DAX weekly chart. 11900 is a very strong support, on which the price bounced back multiple times. Are we going to see an head and shoulders pattern? We alredy have the first two elements. Now we need the right shoulder.
Monthly uptrend and demand level in control on German DAX 30Monthly uptrend on German DAX 30 index. Monthly demand level in control. Longs at new D1 and H4 demand levels. Shorts could happen if monthly demand zone is eliminated
BUY DAX 4HBuying opportunity on DAX30. Trend continuation. Level of support RSI oversold. Market overextended. Bullish on EU Equities until QE ends. Good Luck
DAX - DAILY - BUY SETUPDax - Daily time frame. I see a great buy setup on Dax for a quick 300-500 points move to the upside. Reason for the buy call is purely price action and simple technical analysis.
Top & DropGood Morning Traders. Daxi With great force, but not for long. We will watch for short entry sooner then later. watch the EURO. when it turns thats Bearish signal for DAXI.
Drive Safe.
Wait for a higher level to short. '13050 and 130100'Dax has broken its legendary support zone a few days back and now it is retracing upwards.
I would wait for the price to a little higher and go short around 13050.
levels to watch 13050. 13100.
DAX price projection up to 13715DAX is expected to cross the red trendline tomorrow Tuesday, December 12th; Most probably by a gap up open above it.
This will confirm a new bullish price projection up to 13715 and an euphoric Christmas rally to a final peak!
SP500daytrader
Xmas rally if we close the week above above 13127.5Unless we close the weekly bar below 13127.5
X-mas rally is on and new price projection is 13577
sp500daytrader
WobbelingGood morning Traders.
Dax Wall is marked. Break up Or Down ?
Euro strength and Us retrace will suggest we go DOWN.
Drive Safe.
Germany Dax DE30 Daily Update (21/11/17)13250 resistance zone
But..
Candle is still pretty bullish.
wait for a small consolidation with rejection candle before taking a short.
Do note, it is a counter-trend trade, the structure is still very bullish.
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DE30/EUR 1D Chart: Rebound from 55-day SMADE30/EUR 1D Chart: Rebound from 55-day SMA
The index that compiles 30 largest German companies is advancing against the Euro in the long-term rising wedge formation. This pattern started to form two years ago and today consists of two reaction highs and three reaction lows. Consequently, the breakout of the pattern is expected to happen in the Q2 2018.
In the meantime, in the middle of this year the exchange rate started to form new junior ascending channel but due to support provided by the 55-day SMA it began to transform into another rising wedge. As the northern side contains no notable obstacles, the pair is expected to continue climbing to the top, thus ending the year near the 13,600 level. In case of sudden reversal, the above moving average should prevent the pair from making a premature breakout.
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.
