The price of the DAX Index is trading since the start of November in a range between 12910 reaching peak of 13370 on the 19 of Nov.
The Price almost reached the 0.236 Fib Retracement on the 3rd of December and it seems that it got frontrunned and bounced of it. Placing price action at the start of the week almost exactly in the middle of the range.
Daily Stochastic is heading downwards but depending on todays daily candle close it could cross to the upside before reaching the bearish control zone. Based on my Rules First I dont frontrun any Signals and I don't see this as any Signal for a change of direction as I only like making decisions with a crossing Stoch in either the bullish or bearish and getting confirmation seeing the Stochastic leaving a particular control Zone.
The RSI is heading lower trading below the EMA on the RSI which gives me a little hint that a Pullback move to the vicinity of the 0.382 Fib Level is still on the play.
Downside Targets
1.) 12850 / 0.236 Fib / 50 Daily-EMA
2.) 12650 / 100 Daily-EMA
3.) 12500 / 0.382 Fib / - vicinity of the 200 Daily EMA
Upside Resistance Zone
1.) 13300-13380
If we don't take out the Resistance Zone at the Start of the Week the Index Price will probably grind towards support Levels with a high probability of bounces of every possible support. I expect to start closing my Shorts when reaching these levels, because if we retrace towards support I don't want to hold to the Shorts when near the vicinity of the 200 Daily EMA.
Trade Safe!
koboltrading.com
The Price almost reached the 0.236 Fib Retracement on the 3rd of December and it seems that it got frontrunned and bounced of it. Placing price action at the start of the week almost exactly in the middle of the range.
Daily Stochastic is heading downwards but depending on todays daily candle close it could cross to the upside before reaching the bearish control zone. Based on my Rules First I dont frontrun any Signals and I don't see this as any Signal for a change of direction as I only like making decisions with a crossing Stoch in either the bullish or bearish and getting confirmation seeing the Stochastic leaving a particular control Zone.
The RSI is heading lower trading below the EMA on the RSI which gives me a little hint that a Pullback move to the vicinity of the 0.382 Fib Level is still on the play.
Downside Targets
1.) 12850 / 0.236 Fib / 50 Daily-EMA
2.) 12650 / 100 Daily-EMA
3.) 12500 / 0.382 Fib / - vicinity of the 200 Daily EMA
Upside Resistance Zone
1.) 13300-13380
If we don't take out the Resistance Zone at the Start of the Week the Index Price will probably grind towards support Levels with a high probability of bounces of every possible support. I expect to start closing my Shorts when reaching these levels, because if we retrace towards support I don't want to hold to the Shorts when near the vicinity of the 200 Daily EMA.
Trade Safe!
koboltrading.com
