MaryJane

Little Consolidation ahead?

FX:GER30   The DAX Index
1386 63 58
Dax             is trading near it`s upperedge of the blue counted uptrend. Perhaps at that Level Dax             will make a Little break on it`s main way up to 10.400


The microstructure seems to be a bit stressed out....several candles out of the BB`s! Typical would be a retest of the flags breakout Niveau - here the orange arrow..dip to the min. fibo @ 10.022. The Region between the other fibos 9976-10.022 are potential buying Levels if you believe in further highs.
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Trade active: example intraday short...the rsi is strong overbought, but there is no selling sign at the /x/81ci2sb8/#
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Comment: any ideas? any comments? what are your patterns for today dear followers
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27 Points for breakfast are ok :-)
Comment: scalpers: don`t Forget to trail your stop!
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more that 450 Points...in this trades i tend to half the Position..rsi now generates a sell Signal in this timeframe
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this possible H&S could dax drop to the tp :-)
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2 clear Action Points in this timeframe ..sell the test of the upper edge or buy the breakout....buy the bottom edge or sell the breakout
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Comment: a follower asked me where to open the shortposition..here was my example. half Position opened at 10.084 (half - because we haven`t reached the mentioned upper Action Point) ..then adjusted the stop
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stop reached ... the next 19 points
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wow
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the rsi told the truth this morning - now he signs a oversold Situation..we have reached all fibos
Comment: The RSI in combination with the fibos made a good job today. The holy 61.8 fibo was bought directly, now the today really strong market seems to wanna break out and make a new green 22" Prices above the highs of today have to been seen as strong bullish in that timeframe. Those who want to trade against the trend could fix that level with sl a bit higher than the highest high (@ 10.098)
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Comment: it seems to be breakout-time .. -but beware of the RSI :-9
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adjusted view..same scheme
Comment: nice triangle Situation
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nice flag now
Comment: now or never...flag....now a inverse H&S..will this H&S trigger the flag? 10.060- 10.070 is hard to beat!
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Only prices above 10.070 will activate these pattern, Prices below 10.028 will damage that setup
The shown position is a pending stoppbuy order, not active at the moment
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here is the breakout..if there is no more power behind it it could be a fake...i will see more volume
Comment: there is no power behind the move..perhaps the 10.070 hurdle is too high in front of the weekend
Comment: here are no more buyers at this moment ..the candles sign it:
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Comment: adjusted flag, still the same triggers H&S is passe.
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Comment: no matter what it really ios, it is definetely an intereesting action point ...good for shorts or longs , both sides are justified ..perhaps it is the next shortchance...
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Comment: there seems to be no power any more - weekend-style - a propos weekend: have a good one! c u
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Comment: Here are the levels to watch - potential action points
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here we go..the next breakout is in full swing..the RSI signs a temporarily top in that shortterm timeframe
Comment: Perfect!
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is it time to short ?
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seems to be a good idea...above 10.110 ist´s getting more and more dangerous for shorts, above 10.165 it would be fatal to be short in that timeframe...below 9888 momentum turnes bearish
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Boumrah MaryJane
because we have a bearish divergence on Dax,i will set a sell stop order @ 9970
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RSI! a little upmove should be exspected
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you can see that the momentum decreases (mangenta)
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Boumrah MaryJane
but i think below 9970,then any upmove will be a correction
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i am with you....the momentum only turns bullish again, with prices above 10.100
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possible shorts
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possible longs
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