DAX potential pull-back.DAX had an excellent run since our buy signal (see chart below) more than two months ago (March 21) but after it broke above the former All Time High (ATH) on May 19, it has formed a top and is pulling back:
As long as the price is closing the 1D candle above the 1D MA50 (blue trend-line), it will be a buy opportunity targeting the top of the (dotted) Channel Up at 16600. If however it breaks below the 1D MA100 (green trend-line) we will quick sell towards the Channel's bottom at 15350 and add a new buy there. In either case, the target remains intact at 16600.
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
DAX Index
DAX Elliott Wave Analysis for Tuesday 06/06/2023Trading day preparation. Although pullback is expected in the higher timeframe, we might see some more upside in the lower timeframe. We discuss several scenarios that could play out. For today, depending on what the market gives us, we see several options to enter a trade.
Higher We GoTextbook move in the dax as we have resumed higher as expected, in the linked forecast from last week.
Looking for further upside if the count proves to be correct, otherwise we can look for a double correction lower into wave {c} or {y}.
DAX Elliott Wave Analysis for Monday 05/06/2023Trading day preparation. Although pullback is expected in the higher timeframe, we might see some more upside in the lower timeframe. We discuss several scenarios that could play out. For today, we see a possible entry for a short trade.
High risk trade selling DAX before NFP16k seems like a good level to sell. Will most likely close before NFP.
DAX Elliott Wave Analysis for Friday 02/06/2023Trading day preparation. Although pullback is expected in the higher timeframe, we might see some more upside in the lower timeframe. We discuss several scenarios that could play out. For today, we see several possibilities to enter a trade.
GER40 DAXNice zone for sell in my opinion.
We should go down before, check my last analysis, but some institution changed narration, anomaly:)))
regards if you read that
DAX Elliott Wave Analysis for Thursday 01/06/2023Trading day preparation. Although pullback is expected in the higher timeframe, we might see some more upside in the lower timeframe. We discuss several scenarios that could play out. For today, we see an entry for a long trade at the extremes.
Elliott Wave View: DAX Pullback in ProgressShort term Elliott Wave View in DAX shows that the Index ended wave (3) at 16333.28. It is now pulling back in wave (4). Internal subdivision of the pullback is unfolding as a zigzag Elliott Wave structure. Down from wave (3), wave ((i)) ended at 16179.14 and rally in wave ((ii)) ended at 16224.32. Index then resumes lower in wave ((iii)) towards 15802.86 and rally in wave ((iv)) ended at 15872.60. Final leg wave ((v)) ended at 15726.5 which completed wave A.
Index then did a corrective wave B rally which unfolded as another zigzag in lesser degree. Up from wave A, wave ((a)) ended at 15860.37 and pullback in wave ((b)) ended at 15726.74. Index then rallied higher in wave ((c)) towards 16079.73. This completed wave B. Index then resumes lower in wave C with internal subdivision as 5 waves. Down from wave B, wave ((i)) ended at 15925.22 and wave ((ii)) rally ended at 16058.43. Expect Index to extend lower within wave ((iii)), then rally in wave ((iv)) followed by another leg lower in wave ((v)). This should complete wave C and (4). Potential target lower is 100% – 161.8% Fibonacci extension of wave A which comes at 15103.6 – 15476.8. Near term, as far as pivot at 16333.28 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.
DAX Critical junction on the 1day MA100.DAX hit today the bottom of the short term Channel Up. This is inside a larger Channel Up pattern that started during last year's market bottom.
As long as it holds, especially the 1day MA100, buy and target 16600 on a +6.34% repetition of the first short term Channel Up rally.
If the price closes under the 1day MA100, sell and target the bottom of the long term Channel Up at 15150.
The 1day RSI, trading inside a Channel Down, gives a clear indication as to when that low may be achieved.
Previous chart:
Follow us, like the idea and leave a comment below!!
DAX Elliott Wave Analysis for Wednesday 31/05/2023Trading day preparation. Although pullback is expected in the higher timeframe, we might see some more upside in the lower timeframe. We discuss several scenarios that could play out. For today, we see an entry for both a long and short trade at the extremes.
DAX Trade break outs only. Neutral at the moment.DAX has turned neutral after the 16340 top and the subsequent test of the MA50 (1d).
As long as those two levels hold, it will remain sideways with no action to take.
The long term pattern is a double Channel Up.
Trading Plan:
1. Buy if the price closes over Resistance (1).
2. Sell if the price closes under the MA50 (1d).
Targets:
1. 16750 (top of Channel Up).
2. 15200 (Fibonacci 0.618 level).
Tips:
1. The RSI (1d) is trading under the MA trend line, consistent with the previous two bottoms of the Channel Up.
Please like, follow and comment!!
Notes:
Past trading plan:
DAX Elliott Wave Analysis for Monday 30/05/2023Trading day preparation. Although pullback is expected in the higher timeframe, we probably still go up in the lower timeframe. We discuss several scenarios that could play out. For today, we see an entry for both a long and short trade at the extremes.
DAX Elliott Wave Analysis for Monday 29/05/2023Trading day preparation. Although pullback is expected in the higher timeframe, we probably still go up in the lower timeframe. We discuss several scenarios that could play out. For today, we see an entry for a short trade at the extremes.
DAX Elliott Wave Analysis for Sunday 28/05/2023A pullback in the higher timeframe seems likely. We have 5 waves up as an impulse with divergence in the daily.
FDAX UpdateToday's morning pump was brought to you by the Euros because their market was oversold. PCE numbers came in high but the algos don't care....
I don't expect FDAX to bounce up to the top, GERMANY IS IN AN OFFICIAL RECESSION! I predicted it all year, and it happened yet somehow their market is at ATH which is crazy AF. One of the most absurd things I've ever seen on the stock market.
I'm expecting a gap up Tuesday for a pump and dump but there is absolutely no guarantee, FDAX really needs to head down further
Anyways, recession:
www.cnn.com
