​DAX30 Range Might Turn into an Uptrend

July 16, 2018 20:31

Source: Admiral Markets MT5 with MT5SE Add-on

Early Mondays are notorious for range bound market movements. However, some markets might turn the trend into bullish or bearish the same day. That could be the case with the DAX30. 12460-12498 is the POC zone. The price might bounce from the zone on a retest. If the retest doesn't happen watch for a retracement trend line break (blue dotted line). A close above 12571 should target 12615. If the price make a strong momentum or 4h close above 12615, next is 12684. A move below 12405 might turn the price bearish targeting 12929.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

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