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The price of some stock markets have reached all time highs once again including the German Stock Index the DAX (Ger30). But will they continue to climb or is there a reversal on the horizon? 

Watch the video to learn more…

 

Daily Trenddax stock market rally

The DAX price has recently rallied significantly and broken into new highs. When the stock markets do this we often see retail traders jump into the market and a pullback occurs. 

If the daily trend is going to continue we would like to see a retest of the previous all time highs. If then we see bullish price action we can look for this daily trend to continue.

Alternative Support

dax stocks to rally alternative high

With the market making higher highs and higher lows we can also look at the previous breakout highs as an area that the market may find support again. 

If the price does drop to this area we can look for reversal opportunities on the 4hr time frame in the form of a head and shoulders pattern or a double bottom. 

 

DAX 4hr Trend

dax 4hr stock market trend

When the daily trend retraces in an uptrend we often see a downward trend on the lower time frame. So we should expect to see lower highs and lows until the price retest the major support zone.

Once this has been interacted with we can look for long positions. 

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