FDAX UpdateJust hit oversold.
Guessing tomorrow is a reversal day, regardless of which way the market gaps
FDXS1! trade ideas
DAX will make a push upEveryone thinks that the DAX will make new lows today.
However, the German benchmark index tends to feint at the top and break out at the bottom, and vice versa.
Therefore, it can be assumed that the DAX will once again ignite upwards before it comes to a further downward movement.
This long opportunity offers an RRR of around 1.2:1.
DAX: Bounced🦘The German Dax index bounced off its support at 15 559 points. As a result, it could not yet sustainably dive into our turquoise target zone between 15 528 and 14 313 points. However, we locate the low of the turquoise wave 4 in this zone and expect a new attempt to fall below the support. Only following the turquoise wave 4, we expect a significant rise.
DAX Intraday Levels & ScenariosYesterday at the same level where we are now, sellers showed up, but they didn't create new low. This means they are not strong as they were in previous week so I expect uncertain session or testing higher levels. Bearish scenario should be confirmed by getting out below yesterday's Value Area.
DAX Weekly Prep 21-26 Aug.Previous week was really bearish as I expected. There is still possibility to continue this type of distribution, but 15430 is important level from yearly timeframe so sellers may some reasons to cover shorts. I do not expect strong reversal but I will be ready for evetything as always !
Every level means nothing if daily context is in opposite.
DAX Weekly Prep. 14-18 AugBulls and bears found the fair price in previous week. It can be signal of total uncerteinty or just market's participators had to build the base before next downside pulse. I will be aware of possible responsive activity when the price gets out of previous week value area (yellow) but still, I'm more bearish for incoming week unles buyers will lead the market above previous week value area.
GERMAN40 - DAX - BEARISH SCENARIOChina's Caixin Services PMI rose to 54.1 in July, beating the forecast of 52.5. The European private sector, particularly service sector PMIs from Spain and Italy, along with Eurozone data, will be closely watched. A weaker Eurozone services PMI (51.1 in July) could raise recessionary concerns. In the US, initial jobless claims and ISM Non-Manufacturing PMI are key, with forecasts at 53.0. Other stats include Markit service PMI, nonfarm productivity, unit labor costs, and factory orders. Dax indicates for a slight pull back to 15,000 cross support line.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
