I said sell will come (tradingview.com/chart/DE30EUR/mV7qLvKs-24072023-DAX/) when market test last week's high and that was what we got yesterday. Market swept the highs and came down 250 points before an equally impressive rebound. I also said sell will come this week, around FOMC. Is sell here yet?
IMO, what is messy is SPX and NDX are showing clearer bullish move while DAX made a bearish dip down. I would say as long as PZ holds, should see a move higher. Will only be interested in shorts below PZ. Upside target will be to 16377 which is a strong resistance and possible pullback from there. While if market does dip, 16031 below is a possible first bounce.
To the question if sell is here, I will say, no signs yet, thus I would say that though DAX looks slightly weaker but still only be short below PZ. Do note also that there is ECB meeting today which might result in some volatility.
IMO, what is messy is SPX and NDX are showing clearer bullish move while DAX made a bearish dip down. I would say as long as PZ holds, should see a move higher. Will only be interested in shorts below PZ. Upside target will be to 16377 which is a strong resistance and possible pullback from there. While if market does dip, 16031 below is a possible first bounce.
To the question if sell is here, I will say, no signs yet, thus I would say that though DAX looks slightly weaker but still only be short below PZ. Do note also that there is ECB meeting today which might result in some volatility.
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Join me for free on Patreon (patreon.com/fademeifyoucan) to receive my daily FX and indices trading plan. DM me to join my new group to learn all my trading levels and to trade together.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.