Second Finlogix today goes to the GER30 DAX index one of the largest and most liquid German companies in Europe.

This documentary serves as my first ever analysis for the index and will be a worth while addition to my diversified array of analyses in the platform.

There are 5 European major economic news releases this week with highlights on German Flash Manufacturing and Services PMIs that will give further significance for the GER30 index’s price volatility.

Assessing GER30’s high timeframe candles:

Yearly Candle: Small Green Body with a Longer Tail Wick

Monthly Candle: Small Green Body with a Longer Tail Wick

Weekly Candle: Previous Close is a Green Body current is developing a Small Green Doji

Daily Candle: Last Friday’s close is a Green Shaven Bottom current is developing a Small Green Doji

Both the yearly and monthly candles continue to exhibit a long term trend overall.

It’s safe to assume that the index’s bottom is in for the first quarter of 2024.

However, at press time, both the weekly and daily candles are developing a small green doji which is a neutral pattern.

By saying this, the DAX index may be ready to push higher or lower this week.

I am focusing last week’s all time high for a potential re-test and trading range for this week.

If a rejection occurs through that level, the index shall commence a quick pull back re-testing it again.

Meanwhile, a break above it commences further breakout to the upside seeking a new higher all time high!

For now, I will ride the bullish wave by setting up the following buy orders:

I enter through a current market price with a tight stop loss and a new ATH take profit.

A swing breakout trade. Going to give plenty of room for this one.

The GER30 index is not ready for a big drop yet.

GER30 Intraday Analysis and Trading Plan For March 18, 2024

Mar 18 2024

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