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\/09\/DAX-40-Wedge-Bottom-and-Tight-Trading-Range.jpg\" "\\"\\"")
<\/a>DAX 40 Wedge Bottom and Tight Trading Range<\/figcaption><\/figure>\n\n\n\n- The DAX 40 futures<\/a> was a bear bar closing near its lows on the weekly chart and had a large tail above.<\/li>
- The bulls see a possible wedge bottom, three pushes down with March and July and are looking for a reversal. It’s a micro double bottom buy setup, but it’s a bear bar.<\/li>
- The bears see a broad bear channel, lower lows and 3 consecutive bear bars so expected a second leg. We may have just finished the 2nd<\/sup> leg.<\/li>
- The bulls really want a major trend reversal, first a lower low and then a higher low and 2 legs up, possibly the range of the wedge.<\/li>
- They see this week as a pullback and breakout test of last week and want another move.<\/li>
- But they have failed to get consecutive closes above the moving average for many months.<\/li>
- The bears have been selling the moving average all year and will continue to do so until it is no longer profitable.<\/li>
- The bears want a breakdown of the wedge bottom and measured move down, which would be in the area of the previous harmonic retracement. But it’s a long distance away and bulls are buying new lows.<\/li>
- Limit order bulls are making money which means the trend is not as strong as it could be. In fact, we have been in a range since March.<\/li>
- The bulls were able to get 4 consecutive bull bars in July, so it’s not as bearish as it could be. If the bulls can get a pair of consecutive bull bars, one closing above the moving average, it could be a rapid push higher as bears cover shorts.<\/li>
- It’s a decent bear bar so it’s a sell signal for next week, but it failed to get below the low of the prior bull breakout bar so it’s a pullback and possible buyers below. <\/li>
- Bears will likely need a follow-through bar to convince traders to swing lower.<\/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\/09\/DAX-40-Tight-Bear-Channel-Low-in-a-Trading-Range.jpg\" "\\"\\"")
<\/a>DAX 40 Tight Bear Channel Low in a Trading Range<\/figcaption><\/figure>\n\n\n\n
<\/a>- The DAX 40 futures<\/a> was a bear bar closing near its lows on the weekly chart and had a large tail above.<\/li>
- The bulls see a possible wedge bottom, three pushes down with March and July and are looking for a reversal. It’s a micro double bottom buy setup, but it’s a bear bar.<\/li>
- The bears see a broad bear channel, lower lows and 3 consecutive bear bars so expected a second leg. We may have just finished the 2nd<\/sup> leg.<\/li>
- The bulls really want a major trend reversal, first a lower low and then a higher low and 2 legs up, possibly the range of the wedge.<\/li>
- They see this week as a pullback and breakout test of last week and want another move.<\/li>
- But they have failed to get consecutive closes above the moving average for many months.<\/li>
- The bears have been selling the moving average all year and will continue to do so until it is no longer profitable.<\/li>
- The bears want a breakdown of the wedge bottom and measured move down, which would be in the area of the previous harmonic retracement. But it’s a long distance away and bulls are buying new lows.<\/li>
- Limit order bulls are making money which means the trend is not as strong as it could be. In fact, we have been in a range since March.<\/li>
- The bulls were able to get 4 consecutive bull bars in July, so it’s not as bearish as it could be. If the bulls can get a pair of consecutive bull bars, one closing above the moving average, it could be a rapid push higher as bears cover shorts.<\/li>
- It’s a decent bear bar so it’s a sell signal for next week, but it failed to get below the low of the prior bull breakout bar so it’s a pullback and possible buyers below. <\/li>
- Bears will likely need a follow-through bar to convince traders to swing lower.<\/li><\/ul>\n\n\n\n
The Daily<\/em> DAX chart<\/h3>\n\n\n\n
<\/a>DAX 40 Tight Bear Channel Low in a Trading Range<\/figcaption><\/figure>\n\n\n\n