Type : Bullish Rise
Resistance : 13814
Pivot: 13348
Support : 13004
Preferred Case: On the H4, with price moving along an ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 13348 in line with overlap support to the 1st resistance at 13814 where the 61.8% fibonacci retracement, 127.2% fibonacci extension and 78.6% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 13004 where the pullback support, 50% fibonacci retracement and 100% fibonacci projection are.
Fundamentals: Due to the House Speaker Nancy Pelosi's trip to Taiwan capital, Taipei, we have a bearish view on the DAX index. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
Resistance : 13814
Pivot: 13348
Support : 13004
Preferred Case: On the H4, with price moving along an ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 13348 in line with overlap support to the 1st resistance at 13814 where the 61.8% fibonacci retracement, 127.2% fibonacci extension and 78.6% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 13004 where the pullback support, 50% fibonacci retracement and 100% fibonacci projection are.
Fundamentals: Due to the House Speaker Nancy Pelosi's trip to Taiwan capital, Taipei, we have a bearish view on the DAX index. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.