DAX Important Zones Will Determine the Next Move

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

Both buyers and sellers are locked at specific POC zones. Whichever zone comes first, it should determine the next move.

Buying zone comes at 50.0 Fib and D L5 confluence zone. 12700-25 is where the buyers are. However, sellers are waiting at 88.6 Fib which makes a confluence with W H5 and D H5 levels 13000-13040. Watch for either bearish rejection at 88.6 or a bullish bounce at 50.0. Target for both moves should be 12903. If bears get on a winning side then only below 12714 we should see a continuation down. If bulls win, only above 13129 we should see a continuation move up.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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