The Dax pullback stopped at his 61,8 fibo-retracement. In my last Analysis i wrote: "Now we have reached the max. pullback Level, the 61,8 fibo from the way down 11.750-11.040. This Level could be a possibleTurnaround Niveau. "
The Index could not break this Level.
Yesterday we have seen a very weak tradingday with the result, that the shortterm-uptrend broke.
A new 1-2-3 -downtrend appears (red counting). what means that a Test of the former LOW @ 11.000 should be exspected. The Chart turns bullish again only with Prices above 11.665 ("3") respective 11.820 ("1").
SHould the market reach the Level of the former LOW @ 11.000 where the EMA & SMA 200 and the longterm (since 2015 - orange "1") uptrendchannels bottom edge are based i exspect a new up-wave with new Highs at the Level of my "target autumn Rally"
Trading below the last valid orange "3" @ 1.0645 should initiate a fast selloff
Green/Grey arrows: exspected way
Grey: Alternative way
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For further Information about my countings have a look @
former Analysis:
The Traders dream became true! The pullback stopped @ the 61,8 fibo. Since we have seen the Low @ 11.040 the market decided to go up further. Now we have reached the max. pullback Level, the 61,8 fibo from the way down 11.750-11.040. This Level could be a possibleTurnaround Niveau.
Bearish Szenario: Should the ultrashortterm trend be hurt (Grey arrow) we possible will see a dip to the former LOW @ 11.040. Will the market fall below this Level, the next target would be the LOW @ 10.650. On that way down are based the EMA and SMA 200. They should be a strong Support! If we trade below the last orange "3", i exspect a fast selloff-move.
Bullish szenario: If the index is strong enough to take the last green "2" out of the market, my autumn Rally target can be aimed.
Hybrid Szenario: The market can dip to ist EMA and SMA 200 without hurting any trand or bullish Szenario. Should the market dip to the MA`s i exspect a BIG UP MOVE
Will the pullback stop @ 61,8 fibo?
Will the pullback stop @ 61,8 fibo - the maximal correction level? This would be a traders dream :-)
All Tradingsessions above its 200 sma/ema seem to be bullish anymore.
The range between 10.600-11.060 is neutral
A sustainable close below the ema/sma 200 are selling signals, prices below the last LOW @ 10.600 can generate a selloff
The Index could not break this Level.
Yesterday we have seen a very weak tradingday with the result, that the shortterm-uptrend broke.
A new 1-2-3 -downtrend appears (red counting). what means that a Test of the former LOW @ 11.000 should be exspected. The Chart turns bullish again only with Prices above 11.665 ("3") respective 11.820 ("1").
SHould the market reach the Level of the former LOW @ 11.000 where the EMA & SMA 200 and the longterm (since 2015 - orange "1") uptrendchannels bottom edge are based i exspect a new up-wave with new Highs at the Level of my "target autumn Rally"
Trading below the last valid orange "3" @ 1.0645 should initiate a fast selloff
Green/Grey arrows: exspected way
Grey: Alternative way
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.
For further Information about my countings have a look @
former Analysis:
Bearish Szenario: Should the ultrashortterm trend be hurt (Grey arrow) we possible will see a dip to the former LOW @ 11.040. Will the market fall below this Level, the next target would be the LOW @ 10.650. On that way down are based the EMA and SMA 200. They should be a strong Support! If we trade below the last orange "3", i exspect a fast selloff-move.
Bullish szenario: If the index is strong enough to take the last green "2" out of the market, my autumn Rally target can be aimed.
Hybrid Szenario: The market can dip to ist EMA and SMA 200 without hurting any trand or bullish Szenario. Should the market dip to the MA`s i exspect a BIG UP MOVE
Will the pullback stop @ 61,8 fibo?
All Tradingsessions above its 200 sma/ema seem to be bullish anymore.
The range between 10.600-11.060 is neutral
A sustainable close below the ema/sma 200 are selling signals, prices below the last LOW @ 10.600 can generate a selloff
