themarketzone

Making its way towards weekly Bat completion

themarketzone Actualizado   
FX:GER30   Índice DAX
The False Breakout that the DAX made few weeks ago when he declined below a daily uptrend line and immediately climbed back above signaled the bulls to come back...
Last week we saw the bulls pushing the price back up from the Fast MA line - The bullish trend is still strong.

The price is about 2% away from the completion of a weekly Bat pattern near the psychological level -12,000.

Only a close below 11,500 will violate this short term bullish scenario.

I'm waiting for the DAX near 12,000... will be interesting

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Comentarios:
Price reached target zone - The PRZ is active.
Time to look for reversal patterns on daily/weekly charts
Comentarios:
Perfect reversal
Comentarios:
Re-testing 12,000.
I guess they will take stop losses above 12,000 (too easy)... but this zone remain in focus as longer term reversal zone
Comentarios:
The PRZ in play, also top of a trading channel and RSI divergence.
Is it the top?
See picture below.
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Comentarios:
12,000 being tested again before FOMC - Critical week for DAX and stocks.
Comentarios:
DAX continues to react to PRZ - Setup still in play

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