After 11 week of consecutive gain, DAX30 prints a huge bearish engulfing.
Of course this is a huge opportunity for us to make money!
First thing first: I do want to see some buyers step into this market before committing to a trade.
The rosy scenario is that where I can put some money to work already at 11600 as the convergence of SMA50 and lower channel of the fork plus some noise between 11400 and 11600 can offer support printing a bullish candle.
Should the price pierce 11400 then the nex obvious support is down at round and fat 11000 where also SMA100 will soon come in our rescue and we have a noisy range between 11000 and 10500.
Of course a close below 10500 could spell disaster for DAX30 and a crush of 10000 to my eyes is actually simply unbelievable.
My long term view on DAX is of course bullish as it will go 13000 if given time.
Of course this is a huge opportunity for us to make money!
First thing first: I do want to see some buyers step into this market before committing to a trade.
The rosy scenario is that where I can put some money to work already at 11600 as the convergence of SMA50 and lower channel of the fork plus some noise between 11400 and 11600 can offer support printing a bullish candle.
Should the price pierce 11400 then the nex obvious support is down at round and fat 11000 where also SMA100 will soon come in our rescue and we have a noisy range between 11000 and 10500.
Of course a close below 10500 could spell disaster for DAX30 and a crush of 10000 to my eyes is actually simply unbelievable.
My long term view on DAX is of course bullish as it will go 13000 if given time.
