DAX, Price Action

By Claus Andersen

22. January 2020

15 min chart:

15 min. chart

Price broke up and made a all time high in the DAX / GER30 this week. That was a important target to reach. So far the market found sellers above and sold off by 150 points in one day. The price action going up was a bull channel. We had an overshot of the channel line. That is often followed by a break of the trendline. That is what I will be watching in the coming days. Targets to the downside is 13.400 area or potentially 13.100 area. Could also be a larger spike and bull channel forming. If that happens I will let you know. 

Measured moves are a good way to find targets. In this chart I drew in some of the measured moves aka harmonic moves. Just to let you get a notion of the applicability. 

Support and resistance was adjusted in the latest YouTube video:

Let’s level up together  📈

Claus Andersen

AIL = Always In Long

BO = Breakout

FBO = Failed Breakout

PB = Pull Back

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