MFI hit overbought, RSI is not there yet. Looks like the Euros are the ones pumping the US market back to green. I think the US market will trade on news regardless. Fed meeting minutes at 2pm, PPI and unemployment tomorrow, retail Friday.
In this update we review the recent price action in the #DAX futures contract and identify the next high probability trading opportunity and price objectives to target
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). ## If you like our free content follow our...
Went overbought on RSI again with MFI divergence. I think it goes down tomorrow morning and causes the US market to gap down. It may just be a back test of the old resistance though In any case, US indices are not oversold yet, so no reason to buy the dip until tomorrow.
Well, like I said yesterday (and many times before) the Euros determine the gap direction. They pumped before market opened and we got that big gap up. FDAX MFI is now overbought though and German CPI release is tomorrow morning. high probability of a gap down tomorrow.
Indicators 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,...
DAX 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....
NQ MFI is now touching oversold but FDAX shows no direction for the gap tomorrow. Indicators are neutral. I still have my PTON puts, it's not moving with the market anyways, lol.
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...
DAX 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...
Oversold on both MFI and RSI So Europe is gonna want to gap things up tomorrow morning, but CPI numbers coming out premarket Probably more whipsaw, lol.
The 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 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...
DAX 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,...
Hit overbought last night and rolled over. Looks bearish for US open tomorrow. Not sure if we get a gap down or if they sell off after US open
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...
Looks 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.
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...