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Daxanalysis

Scallop on DAX with new upside target to 18,792From the previous trade analysis on DAX, it hit our target of 16,333. This was due to a Falling Wedge along with a Reverse Cup and Handle pattern. Since then, the price has moved into a consolidation period where the price was fighting between the bulls and bears. And guess who is winning? The bulls again. There has been a smaller pattern form called a Rounding Bottom or a Scallop formation. Now that the price has broken above the neckline, means we can expect upside to come to the next target. Other indicators confirm upside momentum including: 7>21>200 RSI>50 My next target will be up to 18,792
XETR:DAXLong
by Timonrosso
1
DAX Elliott Wave Analysis Higher Timeframe (22/07/2023)In our primary scenario we expect a bit more upside as a wave (5) to finish the higher level wave ((1)). In our secondary scenario, the high might be in and the pullback might have started. For investors, we are in an area to take (partial) profits. Investors do not buy here as the data shows a bearish divergence. Investors should wait for a decent wave ((2)) pullback before buying again. Traders should analyze the lower timeframe. We see opportunities for both short and long trades next week.
OANDA:DE30EUR
by AndyCuckoo
DAX Elliott Wave Analysis Higher Timeframe (15/07/2023)In our primary scenario we expect a bit more upside as a wave (5) to finish the higher level wave ((1)). In our secondary scenario, the high might be in and the pullback might have started. For investors, we are in an area to take (partial) profits. Investors do not buy here as the data shows a bearish divergence. Investors should wait for a decent wave ((2)) pullback before buying again. Traders should analyze the lower timeframe. We see opportunities for both short and long trades next week.
OANDA:DE30EUR
by AndyCuckoo
Dax40 Long turned down, but first support can be nearDax has been trading higher since October 2022 but five waves up from that low suggested that bulls are done for now and that correction is in play. In fact, we have seen a nice reversal down recently, through the trendline support on the 4h chart so the corrective phase is here, but with three waves down from the top, we may start observing some of the support for wave (C). An interesting level for a new price stabilization can be at 15300-15400 area.
CAPITALCOM:DE40Long
by DaveBrascoFX