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:
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Dax40
Mercedes-Benz Group: Parking 🚘Mercedes is about to park wave (2) in magenta in our green target zone between €67.31 and €77.90. Once this top is placed, the share should continue the overarching downward trend, dropping below the support at €60.72 and (after a short countermovement) further southwards. There is a 30% chance, though, that Mercedes could leave the green zone on the northern side and thus climb above the resistance at €77.90. In that case, we would expect the share to develop a higher top first before heading downwards. Wave alt.B in green would then expand into the magenta-colored zone between €84.44 and €89.37.
DAX40 H4|Reversal from overlap support?DAX40 could approach a key support level and could potentially reverse from here. We could see price bounce up to our take profit target.
Entry: 15709.05
Why we like it:
There is an overlap support
Stop Loss: 15503.45
Why we like it:
There is an overlap support just beyond the -27.2% Fibonacci expansion
Take Profit: 16021.35
Why we like it:
There is an overlap resistance that aligns with the 50.0% Fibonacci retracement
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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 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: reached the 1D MA50 but can drop more if it breaksDAX has almost hit today the 1D MA50 (last time it had contact was March 29th) and reacted with a rebound. The 1D technicals are neutral (RSI = 45.355, MACD = 76.400, ADX = 25.34&) indicating that this is a first Support level but if we close a 1D candle under it, can drop more until they turn red.
Consequently, as long as the 1D MA50 holds, we will keep our first buy open, targeting the R1 (TP = 16,300). If a 1D candle closes under it, we will buy again on the 1D MA100, which is waiting on S2 and keep it for the long term even though a max technical drawdown extendes as low as -6.60%. Those where the % declines on the previous two corrective legs inside the Channel Up since December.
Prior idea:
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DAX primary trend still remains positive.GER40 - 24h expiry
Daily signals are bullish.
We are trading at overbought extremes.
Short-term momentum is bearish.
A lower correction is expected.
The 1-day moving average should provide support at 15980.
The sequence for trading is higher highs and lows.
We look to Buy at 15981 (stop at 15896)
Our profit targets will be 16191 and 16241
Resistance: 16090 / 16150 / 16230
Support: 16059 / 16000 / 15930
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
DAX to find sellers at market?GER40 - 24h expiry
Price action continues to trade around the all-time highs.
Daily signals for sentiment are at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A higher correction is expected.
A break of the recent low at 16190 should result in a further move lower.
We look to Sell a break of 16188 (stop at 16268)
Our profit targets will be 15988 and 15948
Resistance: 16270 / 16333 / 16400
Support: 16190 / 16140 / 16000
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
DAX40 H8 - Short SignalDAX40 H8
Waiting patiently to see that 16000 resistance price again (alerts set) or see this support price of 15750 trigger. Either way, we are trading around high price and whole numbers, with a solid 250pt range to benefit and trade between. Tight stops and effective range targets.