#DB1 • Deutsche Börse AG • XETRA LONG TF H1
TP = 168.20 , SL = 157.75
The trend continues, the nearest support level according to my calculations TP 168.20
XETR:DB1
Using HeikinAshi candles and daily TF on Deutsche Börse shows that $DB1 movement is in good agreement with ma (9-60) and rsi. Each price drop (from start until rsi reversal from 30) usually takes 13 to 70 bars. Currently we are at the 23th-bar.
Due to current doubts in market, it can continue to drop and test both support 1 and 2 but the recent...
it seems the end of bullish correction and I expect the previous bearish trend continues. coincidence of channel and fork alerts where correction should be finished.
Deutsche Boerse AG (DB1 - Xetra) is in impulse up cycle in 30 min time frame.
It is in 4th wave correction which will end soon and thereafter 5th subwave of 3rd wave up will rise to new high.
Stay bullish above 156.60 level in every three wave pull back downside.
It is in 5th wave in weekly time frame.
Monthly time frame used above.
Looks very bearish from an Elliott Wave pov.
This is a good trade to take for long term investors.
This is not financial advice and I am not responsible for any losses you may incur. This is only intended for research and educational purposes.
DB1 show strengths today as the index goes down. This is a possible long term long. I will go in now after showing strengths in weak market. If it goes out of trend channel I will go out with my tight stop loss.
In my opinion DB1 will do long up to weekly R1. Indicators (Slow Stochastich) support this decision.
Good try also for intraday buy.
Disclaimer: this is just my opinion, don't invest based on this.
