Making its way towards weekly Bat completion
The False Breakout that the DAX made few weeks ago when he declined below a daily uptrend line and immediately climbed back above signaled the bulls to come back...
Last week we saw the bulls pushing the price back up from the Fast MA line - The bullish trend is still strong.
The price is about 2% away from the completion of a weekly Bat pattern near the psychological level -12,000.
Only a close below 11,500 will violate this short term bullish scenario.
I'm waiting for the DAX near 12,000... will be interesting
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Last week we saw the bulls pushing the price back up from the Fast MA line - The bullish trend is still strong.
The price is about 2% away from the completion of a weekly Bat pattern near the psychological level -12,000.
Only a close below 11,500 will violate this short term bullish scenario.
I'm waiting for the DAX near 12,000... will be interesting
Read more of my ideas in the weekly newsletter - link in signature
Commentaire:
Perfect reversal
Commentaire:
Re-testing 12,000.
I guess they will take stop losses above 12,000 (too easy)... but this zone remain in focus as longer term reversal zone
I guess they will take stop losses above 12,000 (too easy)... but this zone remain in focus as longer term reversal zone
Commentaire:
The PRZ in play, also top of a trading channel and RSI divergence.
Is it the top?
See picture below.
Read the new analysis in this week's newsletter (link in signature)
Is it the top?
See picture below.
Read the new analysis in this week's newsletter (link in signature)
Commentaire:
12,000 being tested again before FOMC - Critical week for DAX and stocks.
Commentaire:
DAX continues to react to PRZ - Setup still in play
Time to look for reversal patterns on daily/weekly charts