GER 30 : More long orders are setting up for potential bull run A strong daily bullish close above the bull flag resistance would signal bullish rally continuation.
GERMANY40CFD trade ideas
DAX // primary expansionA countertrend on H1 was broken by a nice trigger candle that is visible on H4 as well, near the all-time high.
At the moment, this long impulse's correction on H1 is valid, but if it breaks before the H4 TREND and the Daily TREND is broken, we can witness a very nice move towards the target zone.
The extension of the Bull marketDear Friends,
I hope this message finds you well and that you're having a great start to the week. I wish you success in your business endeavors.
As someone interested in the Elliott Wave principle, I find it a valuable tool for analyzing the market. I have developed my approach by combining this principle with my personal experience and by considering various scenarios that are likely to occur in the market.
I am sharing my analysis with you, but please note that I am not providing any buy or sell signals. I aim to share my unbiased analysis with you so that you can use it as a guide to make informed decisions.
The first analysis is Litecoin
In the attachment, you will find my previous analysis of the same market, so you can compare and see the differences. All the details of my analysis are clearly labeled, making it easy for you to understand (although having a basic familiarity with the Elliott Wave Principle theory will help you understand the analytical idea more easily).
I have been studying the Elliott Wave principle for almost three years now. With time, my understanding of this knowledge and experience has increased. What I have achieved so far is a legacy of a genius named Ralph Nelson Elliott, and I am truly satisfied with my progress. May his soul rest in peace and his memory be cherished.
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SHORT IDEAPrice rallied up yesterday after the London Sessions following high impact news drivers.
I'm anticipating a retracement lower to possible correct the move higher, and a possible reversal later in the day.
Targeting the lows and taking partials at the annotated key levels and the consolidation area.
Annotations and stops made in the chart.
As usual, manage risk and conserve capital.
DAX at Resistance - again... - German economy is not in its best condition ever, no signals for rapid change in this matter
- hiper optimism is still present out there and no signals it is going anywhere
- technical levels work only if many traders observe them,
- technical levels dont work if traders just buy without giving it a single thought - which is happening right now
- thus this technical level will most likely be broken and DAX will add more gains...
But you can keep in mind, that technical resistance @ 16950 is created by two Fibo Ext levels:
* FE 61.8 of the impulse starting at the bottom of pandemia (green)
*FE 0.5 of the impulse starting on Oct 22 2022 (yellow)
Do you thing DAX will respect this resistance or it will ignore it?
DAX Elliott Wave Analysis for Thursday 25/01/2024In the higher time frame, it looks like we started a new upward cycle from the October low. This means the wave ((2)) low is in after an expanded flat. The alternative scenario assumes a wave (2) low of a lower degree. In the lower time frame, the primary scenario suggests that wave 4 as a WXY structure is in.
SHORT IDEAAnticipating a move lower to the anticipated targets.
Stop at 16812.1
Key anticipation: we have several news drivers in the London Session which could possibly prompt as reversal.
Annotations made in the chart.
Once the stop level of 16812.1 is taken, the idea is invalidated.
As always, manage risk and conserve capital.
GER 30 Day chart Potential Bull flagA strong bull breakout could interest buyers for bull run continuation.
DAX Elliott Wave Analysis for Wednesday 24/01/2024In the higher time frame, it looks like we started a new upward cycle from the October low. This means the wave ((2)) low is in after an expanded flat. The alternative scenario assumes a wave (2) low of a lower degree. In the lower time frame, the primary scenario suggests that wave 4 as a WXY structure is in.
The DAX could be at (or near) a swing lowIndex futures held their ground overnight, and the US dollar's rally is showing signs of near-term exhaustion. And that indicates a subtle change in sentiment ahead of today's open.
The DAX found support at its 50day EMA on Wednesday, which is just above the 2021 high. Given a small-ranged bullish hammer formed alongside higher volume suggests a 'change in hands' between sellers to buyers, so we're on guard for a bounce.
Bulls could seek to enter within yesterday's range with a stop beneath the 2021 high and initially target gap resistance around 16,490 - a break above which brings 16,600 into focus for bulls.
However, as we suspect the US dollar is set to extend its gains after a pause in its rally and that equities are yet to make a decent retracement, we're anticipating another leg lower towards the support zone just above 16,000.
a daily price action after hour update - daxGood evening and i hope you are well.
After such strong rallies, markets tends to form trading ranges instead of another trend in whatever direction. So today, we chopped back and forth. Which is bad for the bears because that means acceptance of higher prices. Only question is then, how high? Most indexes have obvious targets above, which i gave in my weekly outlook. I also said market is currently bullish and today further confirmed my thesis.
dax
Dax is inside a big triangle from the recent bull trend and the upper bear channel visible on the daily chart. Today was uneventful since we close 9 points above the open price. The tricky thing on a day like today is, that the 2 to 3 legged moves inside the range look strong with good looking signal bars that just turn around at support & resistance, tricking traders into believing a breakout is about to happen. That’s just something will learn to read with hard earned experience. Nothing else.
short term: sideways to up
medium-long term: down
trade of the day: short from the open to globex gap close and test of fridays open and the long above bar 55 to todays open price. that could have been 150-200 points
DAX Elliott Wave Analysis for Tuesday 23/01/2024 (+ HTF)In the higher time frame, it looks like we started a new upward cycle from the October low. This means the wave ((2)) low is in after an expanded flat. The alternative scenario assumes a wave (2) low of a lower degree. In the lower time frame, the primary scenario suggests that wave 4 as a WXY structure is in.
Weekly Technical Anaylsis 22/01/2024Start your week by identifying the key price levels and trends.
The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex.
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Germany 40 is displaying a neutral trend with price movements around the 20-period VWAP of 16,638. The index is supported at 16,446, with resistance at 16,811. The RSI is at 51, suggesting a balanced market dynamic.
UK 100 has entered a bearish trend, as indicated by the price consolidation around the 20-period VWAP of 7,609.2. The support level has dropped to 7,412.5, and resistance is at 7,805.9. The RSI has fallen to 35, indicating potential for further declines.
Wall Street shows a bullish trend with the price maintaining above the 20-period VWAP of 37,523. Support is found at 37,168, while resistance sits at 37,896. The RSI is elevated at 65, pointing to a strong bullish momentum.
Brent Crude Oil remains neutral, with prices slightly below the 20-period VWAP of 77.84. The commodity has formed support at 76.21 and faces resistance at 79.47. The RSI is neutral at 48.
Gold has shifted to a bearish trend, with the current price around the 20-period VWAP of 2,040. It has support at 2,011 and resistance at 2,069. The RSI has decreased to 45, indicating bearish momentum.
EUR/USD is now in a bearish trend, with prices below the 20-period VWAP of 1.089. Support and resistance are at 1.085 and 1.103, respectively. The RSI is at 44, which could signal a continuation of the downward trend.
GBP/USD shows a neutral trend, oscillating around the 20-period VWAP of 1.2706. The pair finds support at 1.2631 and resistance at 1.2786. The RSI is at 51, indicating a balanced market condition.
USD/JPY is bullish, with the price above the 20-period VWAP of 145.07. Support is established at 140.54, and resistance is at 149.61. The RSI is high at 68, suggesting strong bullish momentum.
dax - a weekly priceaction recap and outlookGood evening and welcome to the 2024 early bull games. Something like that bears must have felt thursday and friday. S&P500 & Nasdaq futures are breaking out big time and are on their way printing new all time highs. That being said i still think the moves are part of their respective monthly trading ranges and we won’t trade far above.
dax cfd
Dax was early with the consecutive new ath’s and is now lagging a bit behind the bullish price action on us indices. So the biggest question into next week is, will we break above the smaller bear channel and join the us rally or are dax bulls done and every rip get’s sold?
We had 3 legs down inside the bear channel, broke out of the triangle to the downside but bulls closed at the friday highs and above the daily 20ema. For me to complete this market cycle (trading range after the big rally from october), would be another touch of the upper bear channel. Which one? Doesn’t matter but i think the higher one around 16970ish will get touched or broken. Why?
Let’s talk bull case first: Bears could not produce lower prices or big consecutive bear days below the 20ema. Bear channel held and bulls just bough everything under 16700. Bears tried 3 times and now they will probably give up to short higher again. Thursday and friday printed consecutive bull bars and it’s a buy signal. They want a retest of the ath or at least trade back to upper channel lines.
Bear case: The ath at 17199.5 was done with a big gap up and the daily closed deeply red. Since then every attemp at 17000 was rejected. Not really surprising after printing multiple new ath’s in the last weeks. Bears see the the break below the triangle as confirmation for lower prices and thursday + friday as a retest of that breakout. They do not want the market to close above the smaller bear channel line around 16800 otherwise bulls will see this as a buy signal.
outlook last week: sideways - good outlook since we closed a bit below last week
short term: probably up but just slighty in my odds. if friday was a bull trap and bears can get strong selling pressure, i look for shorts. but i would also not be surprised if we close monday above 17000.
medium-long term: down - what would change that? two consecutive daily closes above 17300
DAX on the Path to All-Time HighThe DAX has recently exhibited resilience after a multi-week period of weakness.
Noticeably evident is the impulsive upward pattern, which typically concludes correction phases. Anticipating a further correction in the recent uptrend, we are initially awaiting a decline to 16,520 points before entering a long position.
Our target is the All-Time-High, resulting in an attractive Risk-Reward Ratio of 3.8:1.
