{"id":161083,"date":"2022-09-24T07:00:00","date_gmt":"2022-09-24T14:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=161083"},"modified":"2022-09-24T02:49:36","modified_gmt":"2022-09-24T09:49:36","slug":"dax-40-consecutive-bear-bars","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/dax-40-consecutive-bear-bars\/","title":{"rendered":"DAX 40 Consecutive Bear Bars and Possible Wedge Bottom"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: DAX 40 Futures<\/h2>\n\n\n\n<p><strong>DAX futures<\/strong> moved down again last week with DAX 40 consecutive bear bars and setting up a possible wedge bottom. The bears got a break below the March lows, but we have been going sideways for many weeks, it might form a tighter trading range here. Bears want a follow-through bear bar closing below this week confirming the breakout, and bulls will buy below this week betting on more sideways to down. The bulls got 4 weeks of continuous buying in July and August so it&#8217;s not as bearish as it could be.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">DAX 40 Futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> DAX chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/09\/DAX-40-Weekly-Consecutive-Bear-Bars-Possible-Wedge-Bottom.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/09\/DAX-40-Weekly-Consecutive-Bear-Bars-Possible-Wedge-Bottom.jpg\" alt=\"DAX 40 Consecutive Bear Bars, Possible Wedge Bottom on Weekly Chart\n\" class=\"wp-image-161159\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/09\/DAX-40-Weekly-Consecutive-Bear-Bars-Possible-Wedge-Bottom.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/09\/DAX-40-Weekly-Consecutive-Bear-Bars-Possible-Wedge-Bottom-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/09\/DAX-40-Weekly-Consecutive-Bear-Bars-Possible-Wedge-Bottom-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/09\/DAX-40-Weekly-Consecutive-Bear-Bars-Possible-Wedge-Bottom-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/09\/DAX-40-Weekly-Consecutive-Bear-Bars-Possible-Wedge-Bottom-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption><strong>DAX 40 Weekly Consecutive Bear Bars, Possible Wedge Bottom<\/strong><\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>The <a href=\"https:\/\/www.investing.com\/indices\/germany-30-futures\" target=\"_blank\" rel=\"noreferrer noopener\">DAX 40 futures<\/a> was a bear bar closing near its low so we might gap down on Monday.<\/li><li>It is also the second consecutive big bear bar closing on or near its low, so traders might expect a second leg down.<\/li><li>For the bulls it&#8217;s a lower low and a possible wedge bottom &#8211; they will look for a reasonable buy signal to buy for 2 legs sideways to up.<\/li><li>But it&#8217;s a bear bar so a sell signal and with two measured move targets below and a harmonic we have been expecting for months.<\/li><li>The bears see we are always in short, 2 legs and consecutive bear bars they can sell on close and sell pullbacks for a possible third leg down.<\/li><li>We have been sideways for 6 months, so limit order bulls have been making money and will likely buy again new lows expecting a retracement above prior lows.<\/li><li>No gaps on the weekly mean it&#8217;s a trending trading range and not a strong bear trend. This could change if the bears get a strong breakout below the wedge and start a measured move down.<\/li><li>Better to be short or flat. Because 3 weeks ago was a reasonable buy signal, the next weekly bull bar will attract more buyers and we will likely go 50% back to that bar or up to its entry point.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/em> DAX chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/09\/DAX-40-Daily-Lower-Low-at-Harmonic-Target.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/09\/DAX-40-Daily-Lower-Low-at-Harmonic-Target.jpg\" alt=\"DAX 40 Daily: Lower Low at Harmonic Target\" class=\"wp-image-161163\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/09\/DAX-40-Daily-Lower-Low-at-Harmonic-Target.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/09\/DAX-40-Daily-Lower-Low-at-Harmonic-Target-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/09\/DAX-40-Daily-Lower-Low-at-Harmonic-Target-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/09\/DAX-40-Daily-Lower-Low-at-Harmonic-Target-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/09\/DAX-40-Daily-Lower-Low-at-Harmonic-Target-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption><strong>DAX 40 Daily: Lower Low at Harmonic Target<\/strong><\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>The <a href=\"https:\/\/www.investing.com\/indices\/germany-30-futures\" target=\"_blank\" rel=\"noreferrer noopener\">DAX 40 futures<\/a> was a bear bar closing below its midpoint on Friday so we might gap down on Monday.<\/li><li>It is a 9-bar tight bear channel so most traders should only be looking to sell.<\/li><li>The target was the March lows and we closed just below it at a harmonic move down from the chart.<\/li><li>The bulls see 2 legs down after a strong bull channel and see a lower low major trend reversal. They see Friday as a sell climax and sell vacuum test of the lows. <\/li><li>Limit bulls have been buying below bars for months and making money so will continue to do so as 80% of breakouts fail and a trading range is more likely.<\/li><li>The bulls want a reasonable High 1 buy signal to get long, currently, there is only sell signals.<\/li><li>The bears see a second leg down and a tight bear channel. They expect the first reversal to be minor and might get the third leg down. <\/li><li>They want the third leg to be reasonably past the March lows so as not to set up a wedge bottom buy signal.<\/li><li>It&#8217;s a bear breakout bar and a lower low but they need follow-through to convince traders of a measured move down. There is a weekly target below.<\/li><li>The bulls know there are no gaps so it is more like a trending trading range, not a bear trend. That means limit-order traders are making money and it is not a strong trend.<\/li><li>If the bears can get a breakout and a pullback that does not go above the recent lows, that would create a gap for a measured move.<\/li><li>With consecutive bear bars on the weekly chart expect more sideways to down next week.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p>You can access all weekend reports on the <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: DAX 40 Futures DAX futures moved down again last week with DAX 40 consecutive bear bars and setting up a possible wedge bottom. The bears got a break below the March lows, but we have been going sideways for many weeks, it might form a tighter trading range here. Bears want a follow-through [&hellip;]<\/p>\n","protected":false},"author":10339,"featured_media":161159,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[1698,136],"tags":[1353,1700],"class_list":{"0":"post-161083","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-dax-40","8":"category-analysis","9":"tag-consecutive-bear-bars","10":"tag-dax-40","11":"entry","12":"override","13":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/09\/DAX-40-Weekly-Consecutive-Bear-Bars-Possible-Wedge-Bottom.jpg","author_info":{"display_name":"Timothy","author_link":"https:\/\/www.brookstradingcourse.com\/es\/author\/timfairweathercagmail-com\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/161083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/users\/10339"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/comments?post=161083"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/161083\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/161159"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=161083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=161083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=161083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}