GER30 is Bullish - We look to Buy at 12110
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Trading within a Bullish Channel formation.
▪️ Bespoke support is located at 12110.
▪️ Further upside is expected although we prefer to set longs at our bespoke support levels at 12110, resulting in improved risk/reward.
▪️ Expect...
The stock market has been pumping and with things coming back to normal, we are going to likely be climbing back up to pre-covid19 levels, but nobody knows this for sure, so I find marking key levels of support and resistance helps me keep track of my bias so can take trades accordingly.
Once the levels are nailed down the execution becomes the next...
We look to Sell at 13305
The medium term bias remains bullish.
Price action has formed an expanding wedge formation.
We have a 78.6% Fibonacci pullback level of 13307 from 13380 to 13040.
Negative overnight flows lead to an expectation of a weaker open this morning.
Further downside is expected and we prefer to set shorts in early trade.
Expect trading to remain...
DAX is on its way to retest all time's market high.
I think that this time we may see a fake structure violation before the retracement from the underlined resistance.
Pay close attention to the market when it enters the underlined area and look for a "W" formation to open short.
*I am not suggesting to catch a big...
Looks like this is getting away from our ideal entry level. However, it looks a good candidate to buy on dips on the short term.
Trade Idea
Broken out of the Head and Shoulders formation to the upside.
Positive overnight flows lead to an expectation of a firm open this morning.
Price action looks to be forming a bottom.
Bespoke support is located at...
Trade Idea
Broken out of the Head and Shoulders formation to the downside.
We have a 38.2% Fibonacci pullback level of 11773 from 12598 to 11263.
The trend of higher lows is located at 11761.
There is scope for mild buying at the open but gains should be limited.
Preferred trade is to sell into rallies.
We look to Sell at 11770
Stop: 11820
Target 1: ...
Trade Idea
Broken out of the Head and Shoulders formation to the downside.
Bespoke resistance is located at 12295.
There is scope for mild buying at the open but gains should be limited.
The formation has a measured move target of 11727.
Further downside is expected although we prefer to sell into rallies close to the 12295 level.
Stop: 12345
Target 1:...
DAY TRADE - EXPIRES AT 9PM
Trade Idea
Trading within a Corrective Channel formation.
Bespoke resistance is located at 12300.
There is scope for mild buying at the open but gains should be limited.
Broken out of the Head and Shoulders formation to the downside.
Preferred trade is to sell into rallies.
Expect trading to remain mixed and volatile.
Stop:...
DAY TRADE - EXPIRES AT 9PM
Trade Idea
Trading within a Corrective Channel formation.
Bespoke resistance is located at 12300.
There is scope for mild buying at the open but gains should be limited.
Broken out of the Head and Shoulders formation to the downside.
Preferred trade is to sell into rallies.
Expect trading to remain mixed and volatile.
We look to...
DAY TRADE - EXPIRES AT 9PM UK
Trade Idea
Trading within a Corrective Channel formation.
Bespoke resistance is located at 12400.
There is scope for mild buying at the open but gains should be limited.
Continued upward momentum from 12195 resulted in the pair posting net daily gains yesterday.
Preferred trade is to sell into rallies.
Expect trading to remain...
DAY TRADE - EXPIRES AT 9PM
Trade Idea
Trading within a Bullish Channel formation.
We have a 50% Fibonacci pullback level of 12130 from 12661 to 11600.
As this corrective sequence continues we look to set longs on a dip at better risk/reward levels.
The medium term bias remains bullish.
Preferred trade is to buy on dips.
We look to Buy at 12130
Stop:...
Trade Idea
Trading within a Bullish Channel formation.
Bespoke support is located at 12435.
Positive overnight flows lead to an expectation of a firm open this morning.
Further upside is expected although we prefer to buy into dips close to the 12435 level.
We look to Buy at 12435
Stop: 12365
Target 1: 12675
Target 2: 12800
Daily market report July 8th...
Dax has returned to within the broad topping pattern seen over 2017-18. While this is not ideal action, the fact that the market broke down in the first place and is held in check by our moving average still provides a bearish posture.
Our first target (yellow horizontal line) has been negated for now. Taking out last week's high on a closing basis will...
I have been watching the DAX H&S form for a while now. This pattern has now been confirmed with a break and weekly close below the neckline.
A descending neckline indicates fundamental weakness and could imply a swift drop.
I am short with a first target in the 10,700 area, and my ultimate target under 10,000.
Main bearish outlook--
Another break of the long term rising trendline is bearish
Shallow rebound from 12610 low on June 19 has ended- setting up re-test and likely break of 12600
Next key support could be 12400
Bullish alternative
12600 level holds, maintaining trading range enrivonment
(level is significant because it was resistance after the February sell-off...
