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DAX breaks a recent high, next target 13600! DAX manages to break through the 13305 high on decent volume after holding the support structure we had mapped out at 12910. The fact that it broke into 13400 and retested the broken high at 13290 means that there could be immediate support here for an all-time high move or a slight retrace into 13050 before we see the all-time high again. For the move to come out into the all-time high we need to see a new higher-low form so that means a move below 12910 ultimately would disqualify this long. Disclaimer: This idea is for educational purposes only, this does not constitute as investment or trading advice. TRADEPRO academy is not responsible for any market activity.
XETR:DAXLong
by TRADEPROAcademy
1
$GER30 #DAX BULLFLAG? RESISTANCE? HOW HIGH CAN WE GO?Just before US Market Open the DAX Index bounced of 13300 filling perfectly the gap. You are looking at the DAX Chart of OANDA which is also active overnight, you can see Gaps on the Xetra Chart of the DAX Index (which is not active during Overnight) While the $SPX500 already trying to break a similar Patern to the upside targeting Prices around 3200-3220 the DAX index is somehow laging behind. On the Dax we might be in a Bullflag which can be seen on lower Timeframes with Potential to target 2017/2018 Highs if the Resistance of 13420 Breaks. If the American Market will push Stock & ETF prices up again with Fuel from the current FED QE (Not QE as they say :) ) it could drag the DAX index with it giving more odds to a break of the Upside. Please also take a look at my Last TA I am currently trading the possibilities of this Potential Bullflag to the upside with a tight Stop Loss and will Take Profit upon reaching resistance. Trade Safe!
OANDA:DE30EURLong
by koboltrading
2
$GER30 #DAX #DE30EUR are tides turning? Were is next Resistance?In the Overnight hours the Dax Index Price broke out to the upside is now heading to retest next resistance level of 2018 highs. For 100% Confirmation we have to wait for this daily or this weeks Candle Close to be sure about this breakout but the fact that we broke resistance trendlines and trading currently at market open, above all past 2-3 Weeks Candle Closes with gaining upside momentum, forces me to adjust my Strategy and take into consideration that higher Resistance levels can be reached. This Post is about the Daily Scale (View) which could be seen as a short term outlook about possible and potential next resistance Targets. On a Makro View (Weekly / Monthly) I am sill targeting lower Support Targets around the 0.382 - 0.5 Fib-retracement Area on at least a Weekly Scale. Reaching this Targets more often then not need time to develop, it could take hours, days, weeks or even a whole month to test uper resistance or confirm some sort of breakdown of this ATH levels. Beginner Traders will be more likely get frustrated by this Price action especially the one aiming on Makro Trading Targets and maybe just trading lower timeframes below the Daily. Last days Picture was changing really fast with a pottential Rollover of the market declined by a massive bounce and following rally fulled by some Trump Tweet about a Trade War Resolution let the markets rise turning the Stochastic oscillator up altogether with the RSI regaining the EMA and heading upwards. The Demark Indicator indicating a new sequence confirming this possible breakout with a consecutive and clear 2 above 1 and 3 above 2. The Chart Pattern could be now seen as a triangle breakout to the upside or a Rising Channel pointing directly to next resistance and the measured up-move from the breakout-point is pointing directly to 13600. Resistance 13510 - 3 Nov 2017 High - upper trendline of rising channel 13570(Candle-close) - 13620(Candle-wick) - 23 jan 2018 High - upper trendline of rising channel Support Area 13280 - 13310 With a break and Daily Candly Close below the Support Area a new evaluation of the Situation would be needed as things would change really fast again. Oszillators Daily Stochastic upcrosed - rising Support trendline RSI - regained the EMA heading - rising Support trendline I expect this area to be now really Volatile making Stophunt Moves before turning towards lower levels of support. The Fact that the Price is Trading at ATH levels and almost all Indicators and Oscillators below the Weekly are resetting themselves and maybe could gain more upside momentum creates the perfect environment for Market Makers running the Orderbook up. Keeping in Mind all this Facts together (ATH, Stophunts, etc.) strategies like scalping will be in favor for the next Days. Trade Safe!
OANDA:DE30EURShort
by koboltrading
DAX hits first level of support and rallies, new all-time high?The DAX managed to pull back, as anticipated through rotations at the top of a structure area it failed to break above into its all-time high and into a new high after several attempts and the downside was expected. We had 2 levels identified as potential targets, the first being the cluster of support that was mapped out based on where the price started its rally which was between 12930 and 12965 which happened to be the inflection point at which the DAX recent bounced off. The second target area for the downside on the retrace was 12615 which was a Fib level that we were watching, but the rejection at the first level suggests that this move lower was just enough to get some new buyers interested. Now, what is the move higher? Where is the upside target? With the Christmas rally ahead we may see new highs across the board in equities. From here we really need to break through the 13305 level that is holding resistance and get into the previous all-time high. If price breaks above 13305 into 13320 then we will anticipate the move into the high at 13600 or so. For that, some good European trade talks will help out a lot. Disclaimer: This idea is for educational purposes only, this does not constitute as trading or investment advice. TRADEPRO Academy is not responsible for any market activity.
XETR:DAXLong
by TRADEPROAcademy
Weekly suggests retrace to 12620 on DAX, then up to 13775!Immediate short on DAX makes sense if you look at it on a weekly basis there is reversal structure forming at the current price, the long wicked dojis and red candle pinbars are associated with a move lower. The volume is accumulating for a slight retrace as the DAX cannot catch up to the US equities at all-time highs. The retrace is still the previous broken level which happens to be the 50% retrace from the impulse move. That would mean that a 5% pullback is to be expected in the DAX and that can be ignited by a pullback in the S&P 500 market which we are anticipating as well. The upside move is the extension based on recent impulses right at 13375. Disclaimer: This trade idea is for educational purposes exclusively, this does not constitute investment or trading advice. TRADEPRO Academy is not responsible for any market activity.
XETR:DAXShort
by TRADEPROAcademy
DAX short to 12620 before an all-time high!The Dax has recently played off of our short level the endless rotation at the 13305 was the indication that there is a stall in momentum from the upside. Meaning we could see a retrace. It's not as strong as the US equities due to the European economy, German economy and the monetary policy. We are watching the retrace into the 12880 support as the first pitstop based on market structure. Then the next level is the 50% retrace at 12615 based on the impulse move that brought it to the high. Then we could see rotations for the high.
XETR:DAXShort
by TRADEPROAcademy
3