{"id":180953,"date":"2023-06-17T07:00:00","date_gmt":"2023-06-17T14:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=180953"},"modified":"2023-06-23T19:52:30","modified_gmt":"2023-06-24T02:52:30","slug":"dax-40-bull-bo-above-ath","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/dax-40-bull-bo-above-ath\/","title":{"rendered":"DAX 40 Bull BO Above ATH, Top of Tight Channel"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: DAX 40 Futures<\/h2>\n\n\n\n<p><strong>DAX futures<\/strong> moved higher last week with a strong bull BO, a trend bar. The bulls see a BO and FT above the ATH. The bears see a buy climax late in a trend which can attract profit-taking. Although there is nothing to sell yet, most BOs above trading ranges fail. The bulls want a pullback and a High 1 or High 2. The bears need a strong reversal here to prevent a MM above.<\/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\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/DAX-40-Bull-BO-Above-ATH-Top-of-Tight-Channel-1.jpg\" alt=\"DAX 40 Weekly Bull BO Above ATH, Top of Tight Channel\" class=\"wp-image-181816\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/DAX-40-Bull-BO-Above-ATH-Top-of-Tight-Channel-1.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/DAX-40-Bull-BO-Above-ATH-Top-of-Tight-Channel-1-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/DAX-40-Bull-BO-Above-ATH-Top-of-Tight-Channel-1-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/DAX-40-Bull-BO-Above-ATH-Top-of-Tight-Channel-1-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/DAX-40-Bull-BO-Above-ATH-Top-of-Tight-Channel-1-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><figcaption class=\"wp-element-caption\">DAX 40 Bull BO Above ATH, Top of Tight Channel<\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/www.investing.com\/indices\/germany-30\" target=\"_blank\" rel=\"noreferrer noopener\">DAX 40 futures<\/a> had a big bull BO, a bull surprise bar that closed on its high last week. <\/li>\n\n\n\n<li>We might gap up on Monday or reverse strongly at the measured move target.<\/li>\n\n\n\n<li>The market broke above the all-time high a few weeks ago, confirming a bull breakout with a follow-through. <\/li>\n\n\n\n<li>The sequence of bars has been alternating, with the latest bar being one of the strongest bull bars in a tight channel. Strong bars late in a channel indicate climactic behaviour and often reverse strongly.<\/li>\n\n\n\n<li>Bulls perceive the breakout and follow-through as an opportunity for a measured move higher, potentially surpassing the all-time high. <\/li>\n\n\n\n<li>However, they acknowledge that the market is currently at the top of a trading range, making buying at this level risky due to profit-taking by traders. <\/li>\n\n\n\n<li>Looking at the channel line over the past six months, every touch of the line has led to profit-taking. <\/li>\n\n\n\n<li>Furthermore, the market has reached multiple measured move targets, including a swing buy from December and a breakout above an expanding triangle in January.<\/li>\n\n\n\n<li>Bears see double top formation within a trading range that originated in 2022. They also observe a duelling lines pattern &#8211; a wedge formation to a target, typically as the second leg of the double top or double bottom.<\/li>\n\n\n\n<li>Despite the bull BO and a strong trend observed over the past six months, it has become increasingly challenging for bulls to achieve consecutive bars. What does it mean? Either a small pullback bull trend or trading range.<\/li>\n\n\n\n<li>A lack of open gaps below indicates a trading range.<\/li>\n\n\n\n<li>The bears want a reversal and followthrough. The third push of a wedge is a reasonable sell.<\/li>\n\n\n\n<li>It also completes a pattern, suggesting a shift back to breakout mode. <\/li>\n\n\n\n<li>Furthermore, there are many trapped bears below due to failed stop entries in the two expanding triangles over the past six months. <\/li>\n\n\n\n<li>Traders should expect potential resistance above the highs and then support from buyers at the moving average, given the presence of numerous bars above it.<\/li>\n\n\n\n<li>Expect sideways to down next week with profit-taking.<\/li>\n<\/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\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/DAX-40-Bull-Acceleration-at-MM-Target-Top-of-Exp-Triangle.jpg\" alt=\"DAX 40 Daily Bull Acceleration at MM Target, Top of Exp Triangle\n\" class=\"wp-image-181812\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/DAX-40-Bull-Acceleration-at-MM-Target-Top-of-Exp-Triangle.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/DAX-40-Bull-Acceleration-at-MM-Target-Top-of-Exp-Triangle-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/DAX-40-Bull-Acceleration-at-MM-Target-Top-of-Exp-Triangle-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/DAX-40-Bull-Acceleration-at-MM-Target-Top-of-Exp-Triangle-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/DAX-40-Bull-Acceleration-at-MM-Target-Top-of-Exp-Triangle-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><figcaption class=\"wp-element-caption\"><strong>DAX 40 Daily: Bull Acceleration at MM Target, Top of Exp Triangle<\/strong><\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/www.investing.com\/indices\/germany-30\" target=\"_blank\" rel=\"noreferrer noopener\">DAX 40 futures<\/a> formed a bullish bar, a bull BO on Friday with a small tail above. <\/li>\n\n\n\n<li>It represents the fifth consecutive bull bar, indicating a tight bull channel, although it is not a microchannel, as Thursday&#8217;s bar dipped below the low of Wednesday. <\/li>\n\n\n\n<li>Bulls recognize a strong bear spike and anticipate a potential second leg and follow-through. <\/li>\n\n\n\n<li>They also note a bullish breakout above the all-time high, which created strong micro gaps that may act as magnets and layers of support.<\/li>\n\n\n\n<li>Bears see an expanding triangle pattern and the sudden acceleration of bulls, which they perceive as a type of climax. <\/li>\n\n\n\n<li>They want the market to close the gap at the breakout point of the previous all-time high. <\/li>\n\n\n\n<li>The historical data shows no tight bull channel but a small pullback bull trend or a trending trading range. <\/li>\n\n\n\n<li>Traders should focus on taking profit at the channel highs instead of buying.<\/li>\n\n\n\n<li>Those looking to buy a breakout of the bull channel should wait for confirmation and follow through or consider buying above the pullback.<\/li>\n\n\n\n<li>Bulls highlight the bears&#8217; inability to profit with stop orders, indicating a lack of bearish momentum. <\/li>\n\n\n\n<li>Bears note that the market has reached a 1-to-1 measured move target, which was expected. <\/li>\n\n\n\n<li>This sets up potential support levels below, particularly at the May 31<sup>st<\/sup> level, which proved to be a bear trap and a sell climax. <\/li>\n\n\n\n<li>Additionally, the bears aim for consecutive bear bars to sell below, considering the absence of open gaps in the past six months. <\/li>\n\n\n\n<li>Traders believe the market is more likely in a trading range, suggesting a potential shift to sideways to downward movement. <\/li>\n\n\n\n<li>The best outcome for bears would be a return to the moving average to establish a larger trading range. <\/li>\n\n\n\n<li>Bulls hope the bear spike fails, followed by a measured move up. <\/li>\n\n\n\n<li>Traders should anticipate sideways to downward movement as bears aim to close the gaps, similar to what occurred in May.<\/li>\n\n\n\n<li>Bulls should exercise caution as bearish momentum can be strong.<\/li>\n<\/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 higher last week with a strong bull BO, a trend bar. The bulls see a BO and FT above the ATH. The bears see a buy climax late in a trend which can attract profit-taking. Although there is nothing to sell yet, most BOs above trading ranges [&hellip;]<\/p>\n","protected":false},"author":10339,"featured_media":181808,"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":[1927,1700],"class_list":{"0":"post-180953","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-dax-40","8":"category-analysis","9":"tag-bull-bo","10":"tag-dax-40","11":"entry","12":"override","13":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/DAX-40-Bull-BO-Above-ATH-Top-of-Tight-Channel.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\/180953","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=180953"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/180953\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/181808"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=180953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=180953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=180953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}