Germany30
DAX 30 German Index longs at weekly demandDAX 30 German Index breaking all time highs. Pausing on the weekly timeframe before a breaks out to create a potential weekly demand level on the way up if the second leg is created
New weekly demand zones created on the way up. Longs at weekly demand zones
Germany 30 Dax Trading IdeaToday, I am looking at the Germany 30 DAX index. It looks like that there might be a continuation of the current trend.
Today’s daily candle is a small bullish engulfing candle with a bearish rejection wick. This indicates bullishness, so I will continue monitoring this instrument.
For now, the intraday charts are more bullish than bearish, but this does not mean that we are going to see a breakout straightaway.
I will be possibly looking for a bullish confirmation from the 4H charts tomorrow. I will be looking for a bearish rejection or a bullish engulfing.
I might consider taking a long trade tomorrow after the market opens. In case I do, my first target will be the level of 13,100. Then, it comes down to price action to decide whether to hold on to a trade or to cut it.
Germany 30 (DAX) ShortToday’s trading analysis is coming from the German Dax market. It has reached the level that I was waiting for it to reach. I wrote about it lat week on my website.
The daily candle is a bullish rejection, close to a pinbar. The resistance level from a previous high at 12,950 has been tested and rejected. I would like to see a rejection of the 13,000 level, as well.
If not, then I will be looking for a bearish signal from the 4H chart in tomorrow sessions. If such presents itself, I might consider shorting this instrument. It looks like the bulls are getting tired for now.
Germany 30 1 Hour Trade SetupIf we can close below the 10 EMA, expect a move down to the 127%, if we look at the daily you can see we are in a downtrend although it seems like a correctional move! Please take profits quickly, the dax looks like it will break this year highs!
I have a link in the description to the daily setup coming!
DAX 30 Wave 5 down remaining (Elliott Wave)In my last article I suggested the possible up progression in DAX, but from the current Price Action it seems that we have one leg down remaining as Wave 5, only after this down leg completes will we have a completed Zig Zag and can expect some upward progression after that as previously suggested.