GER30 in a Triangle area. Weekly analyseHola guys,
Our DAX30 is in a indecision moment, this is the reason this week i staied neutral. It is between R1 resistence and S1, S2 supports. The triangle pattern is made by connecting T1 upper trendline and T2 lower trendline. Also in the chart you can see T3 daily trendline.
Now... my plan for the next week is to wait Monday to see where it's gonna break and after i'll wait a confirmation for the trend that is gonna come ( i'll look for a test ceilling ).
We could have:
1) breaking of T2 and a test ceilling on T1 or S1. Than i'll sell paying attention at 5min candle stick patterns and at the price action. I'll also look for the possible pullback on S2 and T3 ( this are bullish areas ); here i could swip the trade, but anyway i'm gonna advice you if a change is near. S1 and T1 will protect my SL while the first TP could be when the price touches T3
2) breaking of T1 trendline and a test ceiling on the same trendline. This would be a bullish signal ( of course first we have to look at the price action of the market and candle stick patterns ). In this case i'm gonna take a long position, paying attention at when the market touches R1 resistence ( this is the strongest bearish area ). If a swip of the trade will happen i'll write you. S1 will protect my trade while the TP will be near to 11800 ( or i'll close it at a strong pullback that could be a change of direction ).
This is my weekly technical analyse for GER30. When the broke of the triangle will happen i'll publish the idea of the direction that i'm taking.
I hope that this idea will help you. Personally i'll use it to open BO options and couwntdowns... and of course for normal trading too. For any question about the analyse or others request like: the reason of the support and resiste areas, money management or personal market advicer service or account manager ( if you're account is in a bad moment ) contact me in p.m. without any problem, i'll be happy to help you.
Kind Regards,
Delta B.
