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DAX30 Bullish Railway Track Pattern at Support

January 30, 2018 13:13

Source: Admiral Markets MT5

The DAX30 has formed bearish head and shoulders pattern, but the price failed to break away. Precisely at W L4 support the price rejected and built the bullish railway track pattern making the Head and Shoulders possibly a fake one. If the price breaks 13318 to the upside, we might see 13422 and 13492. However, if the price continues below the W L4 and the trend line at 13133 we could see a drop to W L5 -13002.

W H1 -. Weekly Camarilla Pivot (Interim resistance - Weak)

W H2 - Weekly Camarilla Pivot (Weekly resistance)

W H3 - Weekly Camarilla Pivot (Weekly resistance - main)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

W L4 - Weekly Camarilla Pivot (Interim support - Strong)

W L3 – Weekly Camarilla Pivot (Interim support - Main)

W L2 – Weekly Camarilla Pivot (Interim support)

W L1 - Weekly Camarilla Pivot (Interim support - Weak)

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

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DAX30 Instrument


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