The DAX30 has been consolidating between W H3 and W L3 this week. This part of consolidation is
also a part of a greater congestion between M H3 and M L4 levels (see the chart below)
At this point the DAX30 is bullish bouncing straight from W L3/ 50.0 Fib confluence. 12105-186 is the
bounce zone and the first target is 12302. If it breaks 12302 it will do to W H3 – 12561.
However only a clear break and/or 4h close above W H3 will push the pair further towards W H4/M H3
12748-12818. Bulls should remain in control as long as the price is held above W L4.
A 4h close below W L4 11.999 will aim for W L5 – 11655.
Nenad Kerkez aka Tarantula fx
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