DAX30 Breakout or Retracement to the POC Zone

DAX30 Breakout or Retracement to the POC Zone

Early Mondays are notorious for range bound market movements. However, some markets might turn the trend into bullish or bearish the same day. That could be the case with the DAX30. 12460-12498 is the POC zone. The price might bounce from the zone on a retest. If the retest doesn’t happen watch for a retracement trend line break (blue dotted line). A close above 12571 should target 12615. If the price makes a strong momentum or 4h close above 12615, next is 12684. A move below 12405 might turn the price bearish targeting 12929.

DAX30 Breakout or Retracement to the POC Zone

  • W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
  • 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 the price to react aka entry zone)

Best wishes,

Nenad

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Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.