AbsS
Long

DAX Long

TVC:DEU30   DAX Index
115 0 5
Wyckoff Analysis:

Simple accumulation range found within bigger markup range therefore I'd class this as a stepping stone. It also makes it a higher probability accumulation range.

Phases clearly visible, however, can't get volume indicator on TradingView for this market for some reason. Volume was analysed using barchart.com which showed the peak at the lowest point straight after a change of character in range.

Point and figure calculation for TP projection is shown with blue box at top of long position. Earlier recognition of phases and entry would have given a bigger TP size and R:R.
Comment:

If we were being even more thorough we would draw another supply/resistance line at the ST (secondary thrust) after the buying climax and automatic reaction as can be seen here. It shows the throwback/range retest clearer too for added accumulation/long confirmation.
Comment: This is the bigger picture of the DAX. That very large accumulation range from Q4 2016 has a markup channel that is still being respected and has had several stepping stones on its way up already. This makes the probability that the range I have published being another re-accumulation high. As you can also see, the TP range lines up with the overall bigger picture markup channel too - added confluence.

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