What you are NOT seeing in the DAX weekly chart
Most analysts and traders are looking for traditional charting tools when looking for a trade opportunity.
However, looking at charts differently can bring up valuable information.
After all, the whole idea of analyzing price charts is to predict the next market move based on the behavior of the masses, which is reflected in the price chart action.
Long story short for this case, based on the info we provided in the chart: this price could be a good risk/reward for a SELL trade for the next few weeks, targeting a 6% move to the downside.
Also, from a fundamental point of view, do we have the context of another 5% up move in the next weeks? If not, this is another argument that sustains a ranging price move in the area of 16200-17400 EUR.
However, looking at charts differently can bring up valuable information.
After all, the whole idea of analyzing price charts is to predict the next market move based on the behavior of the masses, which is reflected in the price chart action.
Long story short for this case, based on the info we provided in the chart: this price could be a good risk/reward for a SELL trade for the next few weeks, targeting a 6% move to the downside.
Also, from a fundamental point of view, do we have the context of another 5% up move in the next weeks? If not, this is another argument that sustains a ranging price move in the area of 16200-17400 EUR.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.