Looking to buy at 10621, with a stop set below at 10575.
Weekly Timeframe: The weekly timeframe shows that selling interest came into the market at 10853. As a result, this pushed prices south back down towards the recently broken weekly trendline support (prior resistance) formed from the high 7347 (14/02/11).
Daily Timeframe: Yesterday saw the market take back most of Monday’s gains as prices declined 187 points (figure includes pre/after-market hours), consequently causing the market to retest the aforementioned weekly trendline support.
4hr Timeframe: All eyes are firmly fixed on the 4hr decision-point demand area (10584-10658) at the moment. This area could be the turning point at which the DAX rallies to new highs. As such, we have been closely watching the 30 minute timeframe for a low-risk high-probability buy entry. The 30 minute timeframe has so far seen prices rally north and take out some of the selling opposition around a 30-minute supply area at 10697-10658, which leads us to believe a reaction will likely be seen from a 30 minute demand area at 10592-10619 (seen deep within the current 4hr decision-point demand area). Therefore, a pending buy order has been set at 10621, with a stop below at 10575.
Current buy/sell levels:
• Buy orders: 10621 (Predicative stop-loss orders seen at: 10575).
• Sell orders: Flat (Predicative stop-loss orders seen at: N/A).
Daily Timeframe: Yesterday saw the market take back most of Monday’s gains as prices declined 187 points (figure includes pre/after-market hours), consequently causing the market to retest the aforementioned weekly trendline support.
4hr Timeframe: All eyes are firmly fixed on the 4hr decision-point demand area (10584-10658) at the moment. This area could be the turning point at which the DAX rallies to new highs. As such, we have been closely watching the 30 minute timeframe for a low-risk high-probability buy entry. The 30 minute timeframe has so far seen prices rally north and take out some of the selling opposition around a 30-minute supply area at 10697-10658, which leads us to believe a reaction will likely be seen from a 30 minute demand area at 10592-10619 (seen deep within the current 4hr decision-point demand area). Therefore, a pending buy order has been set at 10621, with a stop below at 10575.
Current buy/sell levels:
• Buy orders: 10621 (Predicative stop-loss orders seen at: 10575).
• Sell orders: Flat (Predicative stop-loss orders seen at: N/A).
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.