2025-01-28 - priceactiontds - daily update - dax
Good Evening and I hope you are well.
comment: Bears fumbled again, who could have known. Can’t hold the full bear mode when seeing this price action. Weak wedge rally up to ath now with decent sell spikes in between. Don’t try to pick the top. Let the market show you clearly it wants to go down again, like it did on Friday. Until then, long pull-backs because market is just going up.
current market cycle: bull trend
key levels: 21300 - 22000
bull case: Bulls want a new ath and print 21700. If bears step aside enough, we could actually get to 22000. The bull wedge is the pattern to trade until clearly broken. I doubt bulls will let this drop below 21500 before we see 21700. My second target is 21800 and last one is the obvious 22000. No idea where this might turn again but for now you should not think about bigger shorts.
Invalidation is below 21400.
bear case: Bears sold new highs but that’s about it. The bull wedge is broad enough for both sides to make money. Will we see bigger selling above 21600 tomorrow? I doubt it. Bears can only really think about bigger shorts if we break below 21500. If you have too many bearish thoughts, just look for more time at the daily dax xetra chart. Should go away then.
Invalidation is above 21700.
short term: Bullish on pull-backs and target 21700 or higher. Only scalps though. I still think this will crash at least 20% over the next months but for now I am not willing to risk being wrong about the top and having to scale in 500-1000 points higher.
medium-long term from 2024-01-20: Market hit 21k and now it’s about being patient until we sell-off again.
current swing trade: None.
trade of the day: Buying any dip or selling any new high. Sounds way easier than done but that’s what happened today. Market respect the trend lines perfectly. Show those charts to people who say technical analysis is whatever.
comment: Bears fumbled again, who could have known. Can’t hold the full bear mode when seeing this price action. Weak wedge rally up to ath now with decent sell spikes in between. Don’t try to pick the top. Let the market show you clearly it wants to go down again, like it did on Friday. Until then, long pull-backs because market is just going up.
current market cycle: bull trend
key levels: 21300 - 22000
bull case: Bulls want a new ath and print 21700. If bears step aside enough, we could actually get to 22000. The bull wedge is the pattern to trade until clearly broken. I doubt bulls will let this drop below 21500 before we see 21700. My second target is 21800 and last one is the obvious 22000. No idea where this might turn again but for now you should not think about bigger shorts.
Invalidation is below 21400.
bear case: Bears sold new highs but that’s about it. The bull wedge is broad enough for both sides to make money. Will we see bigger selling above 21600 tomorrow? I doubt it. Bears can only really think about bigger shorts if we break below 21500. If you have too many bearish thoughts, just look for more time at the daily dax xetra chart. Should go away then.
Invalidation is above 21700.
short term: Bullish on pull-backs and target 21700 or higher. Only scalps though. I still think this will crash at least 20% over the next months but for now I am not willing to risk being wrong about the top and having to scale in 500-1000 points higher.
medium-long term from 2024-01-20: Market hit 21k and now it’s about being patient until we sell-off again.
current swing trade: None.
trade of the day: Buying any dip or selling any new high. Sounds way easier than done but that’s what happened today. Market respect the trend lines perfectly. Show those charts to people who say technical analysis is whatever.
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.