The DAX30 has formed bearish head and shoulders pattern, but the price failed to break away. Precisely at W L4 support the price rejected and built the bullish railway track pattern making the Head and Shoulders possibly a fake. If the price breaks 13318 to the upside, we might see 13422 and 13492. However, if the price continues below the W L4 and the trend line at 13133 we could see a drop to W L5 -13002.
- H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
- W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
- D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)
- D L3 – Daily Camarilla Pivot (Daily Support)
- D L4 – Daily H4 Camarilla (Very Strong Daily Support)
- PPR – Progressive Polynomial Channel
- POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
