DAX formed a Bullish Cross between the 4H MA50 and MA100 but dropped sharply, the same kind of sell-off (proportionally) it had on the previous MA50-100 Bullish Cross (July 31st) which was a structured top. Opposite to theory, the Bearish Crosses have marked the bottoms. In any case, the 1D technical outlook is neutral (RSI = 51.653, MACD = -44.700, ADX = 19.555)...
DAX is within a Channel Down pattern on the 1H time-frame and just bounced back to its top (Lower Highs trend-line), hitting the 1H MA50 (blue trend-line) immediately. As long as the price remains within the Channel Down, sell and target the Inner Lower Lows trend-line at 15525. With the 1H MACD just forming a Bullish Cross that high for the first time since...
DAX is on the 3rd straight green 1D candle after it almost hit the 1D MA200 (orange trend-line) last Friday, which is intact since November 10 2022. This rebound comes as a natural reaction to the long-term Support dynamic of the 1D MA200 as well as the presence of Support 1 from the July 07 Low. As long as it holds, we will take it as a buy opportunity and...
DAX is on the 8th straight sideways 1D candle as it found Support on the bottom (Higher Lows trend-line) of the long-term Bullish Megaphone pattern. The 1D MA50 (blue trend-line) is the short-term Resistance while the price is trading around the 1D MA100 (green trend-line) as pivot. We are bullish, targeting the Internal Higher Highs trend-line at 17000, as long...
DAX is pulling back today after a rejection on R1 (16,530), the biggest 1D red candle since July 6th. The 1D technicals are bullish (MACD = 102.900, ADX = 31.239) but the RSI close to becoming neutral (RSI = 55.835), which indicates the slow pace of this uptrend. The 1D MA50 made an emphatic hold four days ago, so as long as it holds we expect the index to...
DAX broke yesterday above the 1D MA50 (blue trend-line) again after rebounding at the bottom (Higher Lows trend-line) of the December 2022 Bullish Megaphone pattern. This is the new technical bullish leg that will aim to form the next Higher High. On a similar way with the previous bottom rebound on March 20, the Low was also priced after the 1D MA100 (green...
DAX is testing the MA50 (1d) following a rebound on the MA100 (1d). That was also the bottom of the short term dashed Channel Up as well as the medium term yellow Channel Up. Technically this is the strongest buy opportunity since May 31st. Trading Plan: 1. Buy when a (1d) candle closes above the MA50 (1d). 2. Sell if it closes under the Channel Up. Targets: 1....
DAX is on the 2nd straight green day after the rebound on the 1day MA100. That was also a Higher Low at the bottom of the mid-March Channel Up. Buy and target Resistance A (16440). Sell if a 1day candle closes under the 1day MA100 and target the bottom of the December 2022 Channel Up at 15310, where you can take an even lower risk buy. Previous chart: ...
DAX is trading inside multiple short and long term Channel Up patterns, an indication of a strong bullish trend, showcased by the green 1D technicals (RSI = 59.394, MACD = 107.100, ADX = 32.591). As long as the 1D RSI stays over the MA line, we remain bullish (TP = 16,500). If it breaks under it, we will target first the dashed Channel bottom (TP1 = 16,000) and...
Hit overbought on RSI and MFI. There's always a chance it breaks out to a new ATH like last time (see highlighted area), but this could be a double top. I mean it all makes sense for Germany to break out while it's in an official recession, right? LOL, crazy market.
RSI overbought, MFI is ot there yet. Looks to me like it wants to double top because recession is apparently good for German economy. I have no idea why the European market is so disconnected with reality. Anyways, I'm not just spouting recession, they are technically in one, in fact the whole Eurozone is. www.cnbc.com
Indicators are neutral but chart pattern looks bullish. Looks to me like they want to hit a new ATH again while in a confirmed recession. This market doesn't make much sense but Europe is full out ridiculous.
DAX is trading around the 4H MA50 and 4H MA200 with technicals naturally neutral (RSI = 52.802, MACD = 10.300, ADX = 21.396) as on any consolidation. The pattern that was completed (inside the long term Channel Up) is an Inverse Head and Shoulders. Technically such formations target the 2.0 Fibonacci. Our plan is to traget the R1 initially (TP1 = 16,335) and then...
3 hr indicators show nothing, but MFI is about to hit oversold on the daily. Probably next week. Probably gonna set a new ATH while in a recession. Crazy.
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...
FDAX still isn;t oversold. I think I'm gonna wait to go long.
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...
Trying to figure out who's still buying into this BS rally, it looks like it might be the Euros, FDAX MFI needs to hit overbought. So possibly another gap up tomorrow even if the market goes down today. Snagged a few BUD puts this morning, just holding that. Got whipsawed out of my XLF puts but I might get another chance at it tomorrow, lol. Note: I don;t...