botje11
Long

Dax reached target zone,now up towards 12800 before next crash

TVC:DEU30   DAX Index
The ones who have followed my DAX strategy since 2 months ago where i called the bear market would start from the 13440, know what my plan is. I am still waiting for the ABC (wave 2) to complete so i can build up a very big short position between 12.500/13.000. A week ago i said i was still waiting for a lower low around 12.100 where i expect wave C to begin and start the big bull trap. I think that moment is now. I just went long around 12.100 because i saw a very small reversal pattern on the 1 and 5 min chart. I don't have a target yet, but i will probably start to close it if we get above the 12.500.

Comment: Sorry i did not give an update here.

Price has dropped much lower than i thought it would. I think we a low set now. I am flat now and not going long again because it's just to risky. On the 1 min chart it seems to be making an attempt to make a reversal.
I really don't know what the market will do the coming months, TA says we maybe tests some resistances and continue the big drop. But i am hoping the market will do what it usually does, not listen to TA and shake out bears. It could be i will start to short it in the low 12K levels, but i hope it will get into the high 12K's. Creating a big bull trap.
12.200 is a very big resistance level to watch if it gets close
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Target of this H&S is the high of today, that gap is going to be a big resistance. It it's able to break it, we could see a small rally this week
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Comment: First sign of weakness, could just make a bull flag here
Comment: Weakening, but could find support here
Comment: Think we will see a big rally in the US any minute now. 25% we see a big drop
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Comment: Could find some resistance here now. Still think we go higher though, at least US markets probably. End of the quarter today
Comment: Looks like US will make another wave up tonight
Comment: Wrong one :)
Comment: And there it is, think it will push much higher even
Comment: Target reached

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the US stocks or the dollar you mean , and can you explain more if you can?
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@MRZF, The US indices, that was a chart of the S&P
+1 Reply
MRZF botje11
@botje11, i know its s&p sir and thx for the reaply, so i was wondering and thinking about something like that but my idea was to buy DOW 30 from the level of 23400-600 what do you think about that ?
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Nice analysis, do u t