By Admiral Markets
Source: Admiral Markets MT5 with MT5SE Add-on 10.09.2018 10:05 AM
The DAX30 is showing a downtrend pattern with a technical zig-zag. We might see either a retracement to the POC zone 12053-83, or a retracement trend line break. The rejection from the POC or a trend line break should provide a renewed bearish pressure with 11800 and 11656 as targets. The resistance is within the 12147-12150 zone.
W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
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D H4 – Monthly Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Monthly Camarilla Pivot (Daily Support)
D L4 – Monthly H4 Camarilla (Very Strong Daily Support)
POC – Point Of Confluence (The zone where we expect the price to react – aka the entry zone)
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.
Article by Admiral Markets
Source: DAX30 Retracement Trend Line Could be Broken Soon
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