Recommendation for DAX Index : Buy
Buy Stop : Above 12431.28
Stop Loss : Below 11806.85
| Indicator | Value | Signal |
|---|---|---|
| MACD | Buy | |
| Stochastic | Neutral | |
| Donchian Channel | Buy | |
| MA(200) | Buy | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
On the 4-hour timeframe the DE30: H4 is retracing higher above the 200-period moving average MA(200) which is rising itself. We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 12431.28. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 11806.85. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (11806.85) without reaching the order (12431.28), we recommend cancelling the order: the market has undergone internal changes which were not taken into account
Fundamental Analysis
Germany’s data improved in the last couple of weeks. Will the DE30 rebound continue?