Weekly chart:
In the big picture we can see a valid uptrend with a high at 4729 points. From there, the price went back almost to the beginning of the green correction zone. A new movement was aborted shortly before the last high and the index fell sharply back down. Not until the week of Christmas did it seem as if a new movement would begin.
Daily chart:
In this trend size, too, the last high is also at 4729 points. However, here we do not have a valid trend. For this, a new high point is required, and until this happens, a trade is not worth it here.
Hourly chart:
The rise this week led to a new uptrend, which is currently in a correction. As long as it does not exit downwards out of the correction zone, then at the start of the coming trading week we can assume that this trend will continue.
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Markus Gabel
Sales partner / AgenaTrader / TradeEscort
AgenaTrader Trading Software
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