FDAX UpdateHit overbought on RSI and MFI this morning and rolled over. Yet another reason why I'm bearish for Monday, I might add some more puts EOD. Looks like it's just gonna do a whipsaw finish today because Friday is Ponzi 401k payday.
No numbers coming out Monday, so I'm expecting gap direction to be the same as Euro market direction
FDAX1!
DAX: Holding the 4H MA50. Accumulating for the next rally.DAX is trading on a Rising Wedge pattern inside a Channel Up, whose 4H RSI just hit the 1 month HL trendline. The 1D technicals remain bullish (RSI = 58.718, MACD = 105.900, ADX = 38.304) hence the long term trend upwards.
As long as the 4H MA50 holds, our target remains the top of the Rising Wedge (TP = 16,100).
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FDAX UpdateIndicators are neutral, but it hasn't hit oversold yet so there's a possibility of a gap down Monday despite the bullishness in the US market today.
the US market probably wants to gap up but the Euros dictate the gap direction much like this morning. I am planning on carrying a relatively small long position over the weekend.
As I said earlier in my ES post, expecting a whipsaw finish today.
Kinda tempted to add some IWM (small cap index) to my retirement account, I think there will be a garbage stock short squeeze next week. I don't recommend investing directly into garbage like PTON or AFRM, lol. Bad news can tank an individual stock.
DAX Double Buy entryDAX is now between the MA50 (4h) and MA200 (4h) after it failed to cross over the latter on this Fed day.
It was rejected on Zone 1 of the previous Lower High.
There are another two such Zones on display, both potential Supports around key Fibonacci levels.
Trading Plan:
1. Buy on Zone 2 (Fibonacci 0.382).
2. Buy on Zone 3 (Fibonacci 0.236).
Targets:
1. & 2. 15700 (Resistance 1).
Tips:
1. The RSI (4h) is rising steadily on Higher Lows (Rising Support). This is an additional level that can indicate a buy entry if it matches one of the above.
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DAX rising on the MA100 (1d). Low risk buy here.DAX is trading inside a Channel Up pattern since November 3rd.
The price almost hit the MA100 (1d) today and instantly jumped.
The drop completed a -6.50% decline, consistent with the prior decline to the Higher Low of the Channel Up on December 20th.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 16200 (representing a +10.40% increase, consistent with the rises of January 17th and November 14th).
Tips:
1. The RSI (1d) is inside its own Channel pattern and it has registered a Double Bottom. An additional buy signal.
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DAX: Rally started and targets 16,500DAX is rising again on the 1D MA50 after hitting the bottom of the four month Channel Up. The 1D technicals are on the best buy levels possible (RSI = 46.297, MACD = 24.600, ADX = 26.606) and the 1D RSI is also rebounding on the bottom of its Channel Down.
According to the extent of the previous two DAX rallies, we are expecting a +11.50% bullish wave to be completed, it is not late to go long even on the current levels (TP = 1
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DAX is a great buy with potential as high as 16280The long term pattern on DAX is a Bullish Megaphone.
Since February though it has been trading inside a Rectangle pattern, offering buy low / sell high opportunities.
Rectangle trade is a buy with Target 1 = 15700.
Megaphone trade is a buy over Resistance A with Target 2 = 16280.
DAX on the strongest bullish momentum of all, targeting 16350.DAX gave us both the sell profit we aimed for last week as well as the break-out buy signal above Resistance 1:
This time we are moving on a higher time-frame (1D), as the index is showing incredible bullish momentum on the long-term. Trading within a Channel Up since the October 03 2022 market bottom, the structure is best viewed using the Fibonacci Channel levels. Since October 21 the 0.236 - 0.382 Fib Zone has been the ultimate buy zone, with the most recent entry being on March 02 right above the 1D MA50 (blue trend-line).
With the 1D RSI coming out of its newest Accumulation Phase, the index can now target the 0.786 - 1.0 Fibonacci Zone, with our long-term target being at 16350.
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DAX Short term bullishDAX is rising before reaching the MA50 (4h).
The patterns involved are two Megaphones.
The MA50 (1d) is supporting long term.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 15800 (Fibonacci 1.236 extension, similar to Jan 31st - Feb 2nd rise that was also +3.75%).
Tips:
1. The RSI (4h) also on a perfect harmony with Jan 31st - Feb 2nd, reinforcing the buy now.
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DAX going straight for its All Time High!DAX held the MA50 (1D) and is rising aggressively.
Such aggressive rise was seen at the start of both bottom rallies within its Channel Up pattern.
As long it doesn't diverge much from its MA100 (1D) in the future, DAX is in for an extremely strong rally.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 16300 (the All Time High).
2. 16750 (Fibonacci 1.786), assuming a pull-back happens that doesn't break the MA100 (1D).
Tips:
1. The Higher Highs of the Channel have been Lower Lows during the Bear Cycle. High symmetry between the Cycles.
2. High Symmetry also from Low-to-Low inside the Channel Up. 78 days the first and 72 days the second.
3. RSI (1) on a Rising Support. You can use this to enter upon pull backs.
FDAX UpdateLooks pretty much the same as US indices, SI and MFI close to overbought but not there yet. The problem here is that it could go overbought and head back down before Monday open, so gap direction can go either way Monday.
I made enough money this week, I don't feel compelled to hold anything over the weekend.
DAX will reach its ATH having Support from the 1day MA50.The 1day MA50 is approaching DAX for the first time in 2 months. This is the first Support on every long term uptrend.
Support A is at 15000 and can be hit on a wick to provide the bounce DAX needs.
Our Target 1 is Resistance A (15660) and long term its All Time High on Resistance B (16300).
The 1day RSI is well supported on its 5 month Rising Support, meaning the index can rebound any moment.
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DAX: This pattern has caused strong pullbacks since 2012.DAX on the 1W time frame is technically bullish (RSI = 64.556, MACD = 451.600, ADX = 57.699) having avoided a 1W Death Cross as the 1W MA50 is diverging again from the 1W MA200.
Every time it avoided a 1W Death Cross since 2012 while the 1D MA100 crossed above the 1W MA50, DAX has always pulled back to at least the 1W MA50 (three cases out of the four even hit the 1W MA200). The 1W MA50 is at the moment at 13,866. Due to the circumstances we see a softer landing on the 1D MA100 however, which is at 14,315 but rising every day rapidly.
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DAX Sell this rejection, buy on the 1D MA50.DAX (DE40) got rejected on its third Lower High within this 2 week Channel Down. We are taking this sell but first target is on the Higher Lows trend-line of the Triangle and only if that breaks, we will extend selling to complete a -2.18% decline on the new Lower Low of the Channel Down.
The RSI's Rectangle shows the best short-term buy entry. The most optimal long-term though will be on the 1D MA50 (red trend-line), regardless of that being on Support 1 or 2. That will be our buy entry, targeting Resistance 1 (15480) and Resistance 2 (15655) on the long-term.
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DAX has one more drop to make before the RSI signals a buyDAX is inside a Megaphone pattern but the recent Channel Down of the past 2 weeks is eyeing a repeat break downwards as the December Megaphone did on the 1day MA50. The latter is waiting now inside Support A.
The strongest buy signal will be given when the 1day RSI hits the bottom of its 3 month Rectangle at 41.00. Buy and target the previous High at 15650.
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DAX One last push lower for a bottom.DAX has had the strongest 1D bearish candle today since December 15 2022. That was the candle that accelerated the correction from the Higher High Zone (red zone) of the long-term Channel Up to the Buy Zone (green zone). With the Channel Up pattern starting on the October 03 2022 market bottom and remaining valid up to now, this Buy Zone has been the most optimal long entry of the past four months.
We look at two indicators for buying, the 1D MA50 (blue trend-line) and the 1D RSI hitting the bottom of its Rectangle pattern and entering the Accumulation Mode. A -6.50% correction doesn't have to necessarily be completed as in late December. Our long-term target is the 0.786 Fibonacci Channel level, which an early projection giving us a 16350 Target.
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