DAX30 Bouncing After the Trend Line Break

By Admiral Markets

Source: Admiral Markets MT5 with MT5SE Add-on

The DAX30 made a break above the trend line and EMA89 and currently it’s above W H3 level that further confirms its bullishness. The retracement into the POC zone 12005-12070could show fresh buyers, and the price might spike towards W H3 again. Further continuation above the W H3 pivot is targeting W H4/ D H4 confluence -12409 with the final target at 12629 but only if there is an apparent 4h close or strong 1h breakout above 12410.

W H3 -Weekly Camarilla Pivot (Weekly Interim Resistance)

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

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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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Article by Admiral Markets

Source: DAX30 Bouncing After the Trend Line Break

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