DAX bounced off our first support at 11008 ( Inverse head and shoulder neckline support, 23.6% fibonacci retracement ) where a further rise might occur pushing price up to our major resistance at 11757.29 (50% Fibonacci retracement , 100% Fibonacci extension, Inverse head and shoulder porfit potential ).
Ichimoku Cloud shows bullish trend where we might see a...
I take a long due to this chart. downtrend is getting weaker and it could be logic that it is testing the trendline again. I'll update this chart on a lower timeframe to enter a short position when it is at the trendline.
DAX remains on the medium term Channel Up on 1D (RSI = 65.938, Highs/Lows = 113.6786), being kept on a consolidation range in an effort to normalize the overbought STOCH, STOCHRSI and Williams numbers. As seen on the chart, 12,919 and 12,854 are the support levels (and long entries) with 13,141 the resistance (and TP). As long as EURUSD keeps falling, DAX will be...
Next week we can go upto 11840 and max down to 11480.
If Dax goes under 11640 till Friday we can see 11575 - 11500 - 11480 - 11400 and max 11200.
I will buy from 11690 - 11700 - 11720 - 11760 with TP 11805.
I will sell from 11805 - 11760 - 11735 - 11690 - 11640 - 11580 - 11540 - 11480 with TP 11408.
BULL dvg in MOM , RSI & MACD in 60min chart, often be a bullish sign.
BUT it's obviose a HS topformation, so here we have to be careful,
and watch careful for bearish sign's again, and if it turn down again....
This could also be used for a new better short-position again,
if that should appear :)
If it stay's over 650-700, that could also be even a stronger BULL-case.
Sell @11775 (+235/-125)
Buy 4 Positions @11540 (After reaching any TP move SL to this TP) (+960/-580)
TP1 11655 (+115/-145)
TP2 11750 (+190/-145)
TP3 11835 (+295/-145)
TP4 11900 (+360/-145)
Under 11322 Dax will fall down to 10970.
February will show us how Dax will continue.
Here you can see my LongTimeTrade for Dax(TP12200)
smaller TF structures show us that there still is potential to shoot up.
It´s kind of MAD to long here but discipline wants it to do so.
Several short impulses got bought, no clear short signal forces us to buy Long.