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This chart is a part of my trend analysis monitoring the DAX Price action over a monthly time frame.
Waiting for a bullish movement to double up on our position.
We are in a triangle pattern however looking at a lot of technical analysis a majority of the market wants a retracement for the long term bulls to continue their rally however if the market moves in a bearish trend we could be looking at a nice profit.
Having a look at the DAX we may be looking at a short-term bearish movement however due to the strong euro you can expect the DAX to have strong bearish movements, let's hope we can get on the perfect DAX Buy soon!.
Could we possibly be looking at that reversal for the German economy or will it continue to hold strong for another a new high.
Right now I think the DAX has been so over-bought because of so much bullish pressure that there will be a slight crash and that time might be now, however it may be smart to hold you long position in case of an immediate reversal.
Still looking at a bullish movement towards upper trend lines.
Looking quite bullish however anything can change.DAX
Well looking at the movement we could see movement for strong bearish however I do believe we are in a bullish market.
I believe that the DAX will consolidate for a few hours to reduce the momentum that it has currently built up too soon rise again to reach the 17000.0 area.
This is the three options of our upcoming trades, I believe that we could be looking at short term bearish before we go full power bullish until September however, we need to always keep in mind that a major event can change our technical analysis.
I'm look to go Long up until 17000 however 16000 should be your area of take profit but it could rise as high as ...
I believe the dax will be going up however we shall see a re-test and then shoot straight up.
If Red trend support line is broken should be looking at a Bearish movement however currently on the 4H it's looking bullish short term may possibly be a double top, then short.