I think the long term retracement for dax is near 12400 area, so it will resume uptrend with dips of course till that area and then drop ... as the 61.8 is at 12400.
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DislikedIn keeping with the looking ahead philosophy, I am looking for any signs now of DAX weakness, based mainly on my Time and Price (TAP) principles of tradeable levels. Both my weekly and daily charts are now reasonably aligned in that respect, and I'll be looking for entry signals via H4. I'm targeting two tp levels ultimately...12365 and 12500. Correct stops and of course patience are key. I'll update if anything interesting happens.Ignored
DislikedGood point. No, I dont trade on 1m tf, but recognized what you described on the 5m tf. Was expecting a mark up to 12.215 to wash out late sellers, but didnt expect it to run up like that and so I could not capitalize on that. Shorted 12260, but lost a few on that trade.Ignored