The DAX30 has completed a breakout of a bullish SHS pattern and the price is rejecting the trend line below the W H5 Pivot. At this point we might expect further rejections as long as the price is below the trend line. Breakout below 12289 and we might see 12169. Only a breakout above the trendline will be bullish for the price and in that case the target is 12628.
W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
M H4 – Monthly Camarilla Pivot (Very Strong Monthly Resistance)
M L3 – Monthly Camarilla Pivot (Monthly Support)
M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)
POC – Point Of Confluence (The zone where we expect the price to react – aka the entry zone)
