DAX Wide Range Due to the Megaphone Pattern

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

DAX has made a broadening top aka megaphone pattern and the range is looking very wide. If the price hits specific zones we will probably see the reaction.

Selling zone 15500-635 has made a confluence with W H3 and M H5 camarilla pivot. We should see selling if the price gets to the zone. Buying zone is 14778-14861. If the price gets there we might see buying opportunities. In between, is the no-man’s land. In my opinion, the price will range between B and S zones without a clear direction. Watch for Weekly camarilla levels until the end of a week.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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