2025-02-17 - priceactiontds - daily update - dax
Good Evening and I hope you are well.
comment: Nothing bearish happening, so max bullishness. I scalp long until it stops working because are obviously not.
current market cycle: trading range
key levels: 22500 - 23200
bull case: Bulls want 23100ish and keep going. Since no one is taking bigger profits and bears not doing anything, why would it stop? Scalp long. If we break outside the bull channel, which is likely in Globex session, wait for a pull-back to maybe 22700 and a good bull signal bar before longing again.
Invalidation is below 21900.
bear case: Bears not doing anything so let’s skip this. Daily close below 22500 changes that again.
Invalidation is above 23200.
short term: Can’t be anything but bullish. Goes only up. Scalp long until it stops. 23k next and likely 23100/23200 because xetra will likely overshoot somewhat.
medium-long term from 2024-02-16: As much as I would love to see this 30% lower, it’s not happening anytime soon. Market will probably has to move sideways for some weeks before this could go down. For now it’s still only up. 23000 likely next.
current swing trade: None
trade of the day: Buying the Globex low since we could not even touch the close of last week. Market printed 1 decent bear bar on the 15m tf and that is obviously not enough to exit any long.
comment: Nothing bearish happening, so max bullishness. I scalp long until it stops working because are obviously not.
current market cycle: trading range
key levels: 22500 - 23200
bull case: Bulls want 23100ish and keep going. Since no one is taking bigger profits and bears not doing anything, why would it stop? Scalp long. If we break outside the bull channel, which is likely in Globex session, wait for a pull-back to maybe 22700 and a good bull signal bar before longing again.
Invalidation is below 21900.
bear case: Bears not doing anything so let’s skip this. Daily close below 22500 changes that again.
Invalidation is above 23200.
short term: Can’t be anything but bullish. Goes only up. Scalp long until it stops. 23k next and likely 23100/23200 because xetra will likely overshoot somewhat.
medium-long term from 2024-02-16: As much as I would love to see this 30% lower, it’s not happening anytime soon. Market will probably has to move sideways for some weeks before this could go down. For now it’s still only up. 23000 likely next.
current swing trade: None
trade of the day: Buying the Globex low since we could not even touch the close of last week. Market printed 1 decent bear bar on the 15m tf and that is obviously not enough to exit any long.
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