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Daxlong

German Markets DAX 30 to head higher (Elliott Wave Analysis)It looks like DAX 30 (German Index) has just completed an A-B-C corrective Wave 4 (The circled Blue Wave iv) and hence we can expect good upside in the coming sessions. From an alternate perspective it is also possible that the Wave iv of Wave (c) is still continuing as a Triangle or some other corrective structure, hence it would be best to look for longs only after the break of the Green Trigger line 12308 level to the upside. The exact confirmation of the new leg up will only come after the break of the Blue upper channel line. Even if the Wave iv (Blue circled) is continuing as a Flat, we still have a good trade setup here to look for longs untill atleast the all time highs of 12960. I will update further as this market continues.
FX:GER30Long
by NeeravYadav
1
Sticking To Dax Bull CaseYesterday's candle was actually bullish. Long-legged candles signal reversals, even if the intraday selloff may have suggested otherwise. The key message: breakout levels ~10490 were tested (violated), but held. Index is off to a fresh swing higher, which could target 10860 (late December high) and 10981 (cycle fibo level). With that in mind, yesterday's mini reversal in Gold, and GBP strengthening vs. USD, are short-term technicals suggesting we are getting a dovish Yellen at JH?
TVC:DEU40Long
by gorillacharts
DAX Back At Breakout Level - Worth A LongOur favorite European Index, the German DAX, escaped the bear market in early August, when it rebounded swiftly after initially rejecting mega-resistance at 10475-485, which it then took out very aggressively. This Monday sent a bearish shooting star candle on overbought conditions, calling for a healthy pullback. As securities often do, they retrace back to breakout levels. Today's session did exactly that and rebounded right at 10490, the former year highs. Daily oscillators aren't bottoming yet, and today's candle isn't really as attractive, as I would like to have it, I would risk a long, given the bullish long-term backdrop. Target at 10800 - Stop at 10450. Best,
INDEX:DEU40Long
by gorillacharts