DAX 40 Futures<\/h2>\n\n\n\nThe Weekly<\/em> DAX chart<\/h3>\n\n\n\n![\"DAX](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/06\/DAX-Failed-Bull-Breakout-Possible-Double-Bottom.jpg\" "\\"\\"")
<\/a>DAX Failed Bull Breakout, Possible Double Bottom<\/figcaption><\/figure>\n\n\n\n- The Dax 40<\/a> futures was a big bear bar closing near its lows so market should trade lower next week.<\/li>
- It was a failed bull breakout and also the second consecutive big bear bar so traders should expect at least a small second leg.<\/li>
- For the bulls, it’s a deep pullback for a double bottom with March 7th<\/sup> at the 13000 big round number. <\/li>
- Bulls have successfully traded long from here expecting the larger trend to continue, but perhaps the context is different now?<\/strong><\/li>
- They expect lower prices next week but will scale into longs below this week looking to at least create a wedge reversal possibly lower than March. <\/li>
- They know the best the bears will get in the medium-term is a trading range and it looks like we are at the bottom, so the math is better for buying.<\/li>
- Bulls know that no matter how bearish something looks in a trading range, traders should expect disappointment and reversals. They want an inside bar for a High 1 buy signal.<\/li>
- Ensuring the disappointment is equally shared after a failed breakout long, it might be a failed breakout short!\u00a0<\/li>
- For the bears, they see it as the 2nd<\/sup> leg of the lower high major trend reversal in January and are looking for a harmonic move of the same length. Though that puts it into 11000 territory or Oct 2020 which is a pandemic zone and probably too low.<\/li>
- Bears see the failed bull breakout of a higher low, double bottom attempt at a major trend reversal. You can see every bull exited in a hurry and bears sold the market.\u00a0<\/li>
- The bears want a weekly bar closing completely below the 200-week moving average (MA) which hasn\u2019t happened in 2 years so it makes you wonder just how bearish can it be yet.<\/li>
- The bears look left and see both times we have a strong bear bar into that long-term average, it was a sell climax and was the start of an aggressive bull trend. If you are short, you’re looking to take profits. The small tail on the end of the bar shows this. <\/li>
- Two weeks ago bears held into the weekend, but this Friday they did not.<\/li>
- If bears are scalping and selling above bars, bulls will be buying below bars so we might go sideways. This is bad for the bears at support. They need a strong break and close below the 13000 big round number to convince traders we will move down.<\/li><\/ul>\n\n\n\n
The Daily<\/em> DAX chart<\/h3>\n\n\n\n![\"DAX](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/06\/DAX-Tight-Bear-Channel-Low-in-a-Trading-Range.jpg\" "\\"\\"")
<\/a>DAX Tight Bear Channel Low in a Trading Range<\/figcaption><\/figure>\n\n\n\n
<\/a>- The Dax 40<\/a> futures was a big bear bar closing near its lows so market should trade lower next week.<\/li>
- It was a failed bull breakout and also the second consecutive big bear bar so traders should expect at least a small second leg.<\/li>
- For the bulls, it’s a deep pullback for a double bottom with March 7th<\/sup> at the 13000 big round number. <\/li>
- Bulls have successfully traded long from here expecting the larger trend to continue, but perhaps the context is different now?<\/strong><\/li>
- They expect lower prices next week but will scale into longs below this week looking to at least create a wedge reversal possibly lower than March. <\/li>
- They know the best the bears will get in the medium-term is a trading range and it looks like we are at the bottom, so the math is better for buying.<\/li>
- Bulls know that no matter how bearish something looks in a trading range, traders should expect disappointment and reversals. They want an inside bar for a High 1 buy signal.<\/li>
- Ensuring the disappointment is equally shared after a failed breakout long, it might be a failed breakout short!\u00a0<\/li>
- For the bears, they see it as the 2nd<\/sup> leg of the lower high major trend reversal in January and are looking for a harmonic move of the same length. Though that puts it into 11000 territory or Oct 2020 which is a pandemic zone and probably too low.<\/li>
- Bears see the failed bull breakout of a higher low, double bottom attempt at a major trend reversal. You can see every bull exited in a hurry and bears sold the market.\u00a0<\/li>
- The bears want a weekly bar closing completely below the 200-week moving average (MA) which hasn\u2019t happened in 2 years so it makes you wonder just how bearish can it be yet.<\/li>
- The bears look left and see both times we have a strong bear bar into that long-term average, it was a sell climax and was the start of an aggressive bull trend. If you are short, you’re looking to take profits. The small tail on the end of the bar shows this. <\/li>
- Two weeks ago bears held into the weekend, but this Friday they did not.<\/li>
- If bears are scalping and selling above bars, bulls will be buying below bars so we might go sideways. This is bad for the bears at support. They need a strong break and close below the 13000 big round number to convince traders we will move down.<\/li><\/ul>\n\n\n\n
The Daily<\/em> DAX chart<\/h3>\n\n\n\n
<\/a>DAX Tight Bear Channel Low in a Trading Range<\/figcaption><\/figure>\n\n\n\n