DAX Fishing for Bear StopsThe DAX respected the August 8th breakout today but I think traders should take note of the bigger picture. Remember, bigger time frames will always tell the full story whilst smaller time frames will try and hustle out the small retailer. I'm giving the DAX until 10600 max. The daily 20MA should spell toast. Any daily chart close above 10806 I'm wrong. DAX should find its way down to 10100 in September
GER30-DAX
DAX to 8000 before 14'000?From what I see on the chart the $DAX has reached a major resistance which could trigger a downmove to
8'000ish, where I see a major support!
- Chart looks a bit bearish
- Support around 8'000
- Clear closes above 11'200 invalidate this setup!
- Time horizon 12-18 Months.
KissKiss
DAX have to make a decision soon (LT-VIEW)If the MACD crosses and turns negative, it will be all over. If the nearest trendline doesn't hold, expect at least 9800 area to come. Possible bounce can come from there also. We can't rule out bullish scenario out. There is gap still open (dax cash) nearby the 10560
Daily Outside Bar just below the PRZ of a Gartley The German DAX continues to consolidate just below the PRZ of weekly bearish Gartley pattern.
Today, after Draghi's ECB press conference, the German Index formed a daily Outside Bar that will be triggered if the price will decline below 10,600
For now, the Fast MA line (in yellow) continues to play its support role and drives the price higher every time it touches it.
When it'll fail, it'll be the trigger for a pullback towards 10,000 again (with 10,350-10,400 as mid Target) to test the strong weekly support there.
Ger30 : Wave 5 in PlayMost markets are now moving upwards !!
Wave 3 of wave 3 of wave 5 in play !!
And if it's right -- you can get 40 - 50 % return on stocks !!
SPX500 : Within striking distance of making new highs !! FED hike talks had no impact till friday !!
Buy @ 10200 With Sl @ 9700 Once Dax breaches 10500 expect it to climb to 11400 !!
GER30 Long UpdateGER30 broke the 2H descending Trendline and tested this line. Exactly the same Scenario with the 1H Trendline. I moved my Stop to the marked Level in the Chart. The reason for this is the completed ABCD Pattern and the low volatility. More upside potential is possible.
Trade safe, Daniel
Likes and Comments are appreciated and would keep me motivated.
GER30 ABCD Pattern UpdateGER30 broke my descending Trendline to the top and formed a pullback back to the Trendline (Take a look at my Analysis to get a deeper look of this stock. I expect an ABCD Pattern to take place soon. I will add more Positions after a breakout of this pullback.
Trade safe, Daniel
Likes and Comments would keep me motivated
GER30 AnalysisGer30 broke a Resistance to the upside (turned now into support) and tested this Level. Now I'll be looking for a further downmove and enter my long position based on a breakout to the upside. Stop Loss should be placed below the support zone at 10430-10480. Profits should be placed at the last highest high.
I don't trade Stocks often but in my Opinion this should be a good Setup.
Trade safe, Daniel
Likes and comments are appreciated and would keep me motivated