New MomentumThe upward correction has failed to become a new rise and the following downward move has enough momentum to confirm the medium term downtrend again.
DAXK trade ideas
ResistanceThe close of May 9th is a resistance, however a weak. Another indicator is the mid June window which has been repeated today. If this points cannot be overcome soon we may see a downward retracement. Another item is the old Fibonacci mark of the rise from March 2020 until November 2021. The 38,2 % level has been reached from the downside again now.
All together this pivots are either void or weak ones. But all together they may be of importance.
Declining MomentumThere was a number of windows opened during the decline in the past 2 weeks. The latest oft them has been closed yesterday. As the downward momentum is declining we may expect the close of the last open window opened on February 23rd. If so we may see a test of the bottom of the sideward range that was trading for 3 months.
Open WindowWe got an open window since December 7th. It could not be closed by the following downward correction. The week ended with an inverted hammer. This makes it more likely for me to expect a test of the mid summer highs again to close the window of November 21st once again or even that of November 1st.
Spinning Top2 consecutive Dojis indicate a possible top.
Tradingview doesn't want my idea as they think that the description is to short. :-(
They are saying: "Gosh, That's a very brief description. Could you, please tell your audience a little bit more about what yoe're publishing."
No, I cannot. That's the idea. But they don't want a short idea. They want volume, much text. What a nonsense!
Now, that I've written a bulk of, let's say: cheese, it will probably pass.
BreakthroughWe opened with a growing downward momentum having made a breakthrough 2 days ago already.
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