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DAX30 Possibly Targeting 12050 Zone

Nenad Kerkez
Updated

The DAX30 has made a break below the trend line and at this point, it is still trapped below W L4 camarilla pivot. POC 12300-325 is the first POC zone that could initiate fresh selling if the price retests it. POC2 12500-520 is the POC2 with a very strong bearish confluence. However, we might see a direct drop without any retracement to POC zones. In that case, the target is 12045-65 zone. Watch for counter-trend moves and potential buyers within this zone.

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  • W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

  • W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

  • W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

  • M H4 – Monthly Camarilla Pivot (Very Strong Monthly Resistance)

  • M L3 – Monthly Camarilla Pivot (Monthly Support)

  • M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)

  • POC – Point Of Confluence (The zone where we expect the price to react aka entry zone)

Best wishes,

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Nenad

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This article was originally posted on FX Empire

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