FX:GER30 DAX index of German listed shares
Trigger for a Short would be a break of last candle low circa 8780. Initial wave of selling has concluded; Double Smoothed fast value already broke 50 line week of August 18, typical reaction ensued, slow value completed crossing of 50 week of September 22, this completed the first wave of selling a strong market. Price has broken and closed below a major trend line. Some weekly bars of nature may be in the near future, closing value of any Daily or Weekly candles would be an opportunity for short trades. candles could possibly retest a High value of 9941 which would be a major divergence from the underlying trend for this market. Keep an eye on the values. Last two values have shown the weakness of this market is turning weaker. Current value of -122 supports current selling and usually is the beginning of good selling trend. target for value would be -200. White boxes are drawn out through the end of 2014. Potential targets 7913,7218 ((beginning of this past wave)). An extreme target being 7218 would be 19-20% drop, but that is what the chart is telling me. This is obviously a Long Term viewpoint that will need review after each weekly close. Price could remain in a triangle compressing price up to the 9941 level through the next several months through to summer before exhaustion has finally arrived or another round of breakout.