GER30 trade ideas
Potential bullish rise?DAX40 has bounced off the support level which is a pullback support and could rise from this level to our take profit.
Entry: 17,627.71
Why we like it:
There is a pullback support level.
Stop loss: 17,347.26
Why we like it:
There is a pullback support level.
Take profit: 17,964.37
Why we like it:
A pullback resistance level aligns with the 61.8% Fibonacci retracement.
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Will the German stock market remain bullish? The Dex index can continue to rise up to the range of 17944. If this resistance zone is broken, we can expect the price to rise up to the range of 18122 and 18272. Otherwise, with the failure of the 17576 area, we can expect this index to drop to the 17361 range.
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DAX40 Bearish Rising WedgeRising zigzag, line at 17,600.
If broken, supports are way lower: 17,000; 16,500 and 15,800
GERMANY 30 (DE30EUR): Classic Bullish SetupDE30 fell to a significant horizontal support level on Monday before rebounding and creating a rising triangle pattern on the 4-hour chart.
The triangle's neckline is base on an intraday gap down.
Keep a close eye on the highlighted blue zone, which serves as a narrowing buy zone supported by a trend line and a broken neckline.
I anticipate a bullish movement to follow.
The next resistance level to watch for is at 18,089.
buy to sell set-upGer30
Price formed an all-time high at 18 921. It must be noted that the swing responsible for this high has been bridged by price recently and formed a new swing low at 17 024. Now we focus on the price within this mentioned price range looking for selling opportunities targeting or new formed low. It have a supply zone at 18 584 which is to be used as our area of interest as it is this price level that will validate our set-up and a break and close above this area will invalidate out trade. Most importantly price has to return to it within 30 days for us to consider taking the sell.
For price to reach this level we have to technical zones which we can’t rule out which are old swing low areas, respectively; 17 945 and 18 175 which much more expected of price to respect as it recently formed and it in more closer to our inner 4hr/1hr supply zone targeting the newly formed swing low at 17 024.
We have x2 set-ups
-The retest of the broken old swing and
-the retest of the supply zone
Dax ABCDThe Dax has moved from a Base - Drop to a Base . This Base is in the form of an Ascending Triangle.
Drop + Ascending Triangle = Continuation to downside.
An ABCD move, which is completed with a final Drop.
How Far ? 16400 is possible to the Demand Zone.
GER30 DOWNTREND1.Ger30 has been on a downtrend for some time.
2.The trend is still continuing with the downward move since a rising triangle has been formed.
3.The triangle broke out of the major condolidation, signaling a continuation with the downtrend.
4.Entry and Exit points as indicated.
GER40 - In Bullish TrendGER40 is in bullish trend after making a bullish divergence @ 1H timeframe. It is also complimenting the trend line. Taken an instant entry.
The Signal is:
EP: 17592
SL: 17257.90
TP: 17926.1
RR: 0.5%
DAX to see a powerful correction to the upside?GER40 - 24h expiry
Bullish divergence is expected to support prices.
The bullish engulfing candle on the 4 hour chart the positive for sentiment.
We are trading at oversold extremes. A higher correction is expected.
The bias is to break to the upside.
A break of the recent high at 17565 should result in a further move higher.
We look to Buy a break of 17585 (stop at 17425)
Our profit targets will be 17985 and 18185
Resistance: 17565 / 17700 / 17900
Support: 17400 / 17250 / 17021
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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07.08.2024 - GBE Marktcheck - DAX, S&P 500, Nvidia, Silber Herzlich Willkommen zu einem neuen GBE Marktcheck mit dem langjährigen Trading- und Charttechnik Experten John Gossen. In diesem Video werden folgende Basiswerte anhand der aktuellen charttechnischen Situation besprochen und unter anderem potenzielle Trading-Strategien aufgezeigt:
- DAX Erholung Richtung 17.700 Punkte?
- S&P 500 deutlich überverkauft!
- Nvidia zieht an!
- Silber mit Long Chance?
Wir wünschen Ihnen einen erfolgreichen Handelstag!
Disclaimer:
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Unlocking the Trading EdgeIt's all about probabilities! 🎲 Understanding probabilities is essential for success in trading. Here are a couple of examples:
1️⃣ Example 1: Risk Management
When managing risk, I assess the probability of a trade going in my favor versus the probability of it going against me. By using proper position sizing, damage control techniques (or stop-loss orders), technical pattern recognition and sentiment assessment, I aim to ensure that even if some trades result in losses (through washing), the overall probability favors profitable outcomes.
2️⃣ Example 2: Technical Analysis
In technical analysis, I don't expect every trade setup to be a guaranteed winner. Instead, I focus on identifying high-probability setups with a either a favorable sentiment bias with the trend or an over-extended mean reversion opportunity. By combining technical indicators, chart patterns, and confluence factors, I aim to stack the odds in my favor every single time.
By understanding that forex trading is about probabilities, I don't let individual trade outcomes affect my confidence. I know that even with a winning edge, there will be losing or damage control trades along the way. What matters is consistently executing my strategy with discipline and sticking to my edge in order to allow for the law of averages to play out. Been doing this for almost 10 years now. Teaching it every day to my students, who see this edge play out over time as I share my trading with them.
Remember, forex trading is not about being right all the time, but rather about making trades that have a higher probability of success and managing risk effectively. Embrace the probabilities, stick to your trading plan, and focus on the long-term results. Here's to profitable trading!
Faith in the wave principleThis serves as a reminder to adhere to the wave principle discovered by Ralph Nelson Elliott. I'm sharing this photo as it's the only documentation of the diagnosis before the development of this analytical idea. It's essential to pay attention to signs that confirm an idea when sharing it with friends, such as the invalidation of the analysis, the passing of the price of the aggressive and conservative idea, as well as the formation of each correction and action pattern. This is a detail I want to emphasize because I don't want anyone to experience the psychological suffering of losing capital. I wish everyone success and recovery in the field of analysis and trading. I am nobody, which is why I chose the nickname Mr. Nobody.
The idea of extending the DAX bull marketGreetings
The recent discussion regarding the Dax Market presented a single potential scenario, exploring a specific structural formation. It is important to note that my analysis stems from a background in technical analysis, and my initial viewpoint was based on the observed structure. However, it is crucial to emphasize that I do not lay claim to expertise in market analysis, though I do hold a strong belief in the wave principle, substantiated by my observations and experiences.
Presently, I present a more assertive notion. My assessment indicates the emergence of a 4th wave pattern resembling a double zigzag pattern. The confirmation for trading lies in the conservative breach of the wave X price of this pattern. I recommend considering the price action in conjunction with the formation of the impulse pattern, as well as the development of any corrective pattern. This strategy aligns with a bullish market trend.
Wishing you success in your endeavors.
DAX (GER30)I think the area marked in the picture is a very good place for selling. The rand number of 18,000.0 and the resistance zone will probably cause a good fall. What do you think about this idea?
Kommt jetzt der Impuls nach oben??Der DAX dürfte die Korrektur beendet haben und sollte jetzt einen neuen 5er Impuls nach oben aufbauen - das Erreichen der 19000 in den nächsten Wochen sollte kein Problem sein!?
Dax - the Corrective Big PictureAll markets experienced Bedlam. Yesterday. It happens and provides opportunity.
Surely the market can't go lower ?
In the last 5 years there have been Corrective retracements in the current Bull Cycle, two of
which were Bear Markets.
Given the current downturn is only 10.5% , there is room for further downside.
On a daily basis, yesterday was the highest volume in 2 years. But on a monthly basis, we
can see the Volume is anemic. Buyers remain on the sidelines for now.
German DAX - More Downside Potential From Here?Germany's DAX index has broken down definitively from its 4-month symmetrical triangle pattern, hinting at a potential "measured move" decline toward the mid-16,000s next.
So far, the index has dropped sharply over the last 3 days to hit the 38.2% Fibonacci retracement of the rally off the November low near 17,250. A near-term bounce off this support level wouldn't be surprising, but as it stands, the index may have more near-term potential for downside from here.
-MW
