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DAX: False break?Dax has returned to within the broad topping pattern seen over 2017-18. While this is not ideal action, the fact that the market broke down in the first place and is held in check by our moving average still provides a bearish posture. Our first target (yellow horizontal line) has been negated for now. Taking out last week's high on a closing basis will alleviate bearish momentum, whilst a clear continuation pattern would be to close below last week's low. Since our bias is short, we will await confirmation next week before initiating new short positions. Any surprise in the US elections may stun markets and initiate a fresh drawdown in global equity prices.
OANDA:DE30EUR
by TheRealPeaches
German Stock Index DAX (Oct 2018) This will be my views of German Stock Index (Oct 2018) Please make sure to read the "update" comment as there will be changes along the way. Cheers. S0nic Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. We, Sonicr Mastery dot com is not responsible for any liabilities arising from the result of your market involvement or individual trade activities. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
OANDA:DE30EUR
by SonicDeejay
German Stock Index DAX Pt 2(Sept 2018) *Bullish Still, Be NimbleThis will be my views of German Stock Index DAX (Sept 2018) Please make sure to read the "update" comment as there will be changes along the way. Cheers. S0nic Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. We, Sonicr Mastery dot com is not responsible for any liabilities arising from the result of your market involvement or individual trade activities. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
OANDA:DE30EURLong
by SonicDeejay
7
Target hit. Expecting a minor pull back to buy again.TP = 12,207 hit as the 4H Channel Up (RSI = 69.388, Highs/Lows = 10.3357) aggressively broke to a new Higher High at 12,460 with 1D making at the same time a Lower High on its Channel Down (RSI = 55.850, MACD = -12.700). Since we consider this month's 11,880 bottom the completion of the 1W H&S pattern, we expect DAX to break even higher. However given the fact that On Wednesday the Fed announces the rate decision, a pull back is expected on most stock markets. We will be buying near 12,300 aiming at 12,420. Crossing of this level suggests a breaking of the 1W Channel Down formation and initiates a new uptrend to 12,600 first and 12,760 in extension.
XETR:DAXLong
by InvestingScope
Bounced near the 1W support. Uptrend already in development. LonDAX has rebounded strongly after hitting the upper layer of the 11,725 - 11,880 1W Support zone and since the long term 1W Head and Shoulders pattern was completed (or at least is near the completion (but less likely) assuming it has one more leg down to 11,725), the index should now resume the commanding bullish long term monthly trend. It already broke the 12,120 Resistance on 4H and previous Lower Low on the 1D Channel Down, having developed a new 4H Channel Up (RSI = 48.807, MACD = 7.900, B/BP = 0.2800) that is now sumply pulling back for a technical 12020 Higher Low. We are going long now with TP = 12,207. As seen by the Resistances though (black dots) the uptred has a long way to go before we can safely say that it has crossed all bearish channels.
XETR:DAXLong
by InvestingScope