DAX German Stock Index -Daily -"If the log rolls over". SELL

INDEX:DAX   DAX Stock Index
DAX             potential "smack down" from a 5-day time at mode signal ending on Thursday's close and note that the new 5-breakout-failure where a 5-day consolidation failed to lead to a new buy signal could be a sign of exhaustion up here ... A little drop and a sell signal is triggered (and CCI has crossed under +100 for a 4th time in this rally = typical of a bull market move. A main cause for concern is the "internal strength" of the rally as measured by my proprietary "range movement" indicator is saying this is a "weak rally" with a sub-par 50% retracement ... So, I am looking to SELL under The previous 3-day lows and target 9080 minimum. 9291 last...

If we get a range completely above the purple "6" rectangle area, then a new buy signal will register. Cover any shorts and go long.
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A granulated outlook
Keep a close eye for a break of either the "highest daily low" or a "3-day low" for this market to break down. The sideways movement at this level is not indicative of a "rejection" o this price zone. The longer it sits here, it shows that sellers are not lining up to liquidate, but rather that buyers are building up, amassing under the current price levels, waiting for the right reason to step up their buying to higher prices. So, I'll post a new chart to show you how it looks from this methodology. Cheers. Tim 10:11AM on 11/13/2014
+1 Reply
Hi, - DO you have a short position, here Tim?
timwest PRO HamedAghajani
Yes, note the stop.
+1 Reply
Low risk short here. Sell additional in the red box zone with a stop over the red box.
+2 Reply
i think also, there is an suport/resistence at 9388 almost, i think dax will go short at least for 2 week

+1 Reply
leonardo86 leonardo86
+1 Reply
Interesting use of fib retracement on your RgMov indicator! Are you open to sharing the components that make up your prop indicator?

Looking at the RgMov trend, it looks as if it calculates an average of how much the price extends past the previous day's range?
+1 Reply

Looking to SHORT as well if resistance holds
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