The BEAR is back 4

FX:GER30   DAX Index
The market seems to be chopping everyone to death. There have been some wild seas ever since the mini-crash which shaved more than 2000 dax             points.

So far the idea that we started a bear market is alive and well. The current wave, presumably a 4, is doing it's job of being unpredictable, which combined with the assumed bear market rally makes it very difficult to trade short term.

As previously warned the peak of the bounce so far hadn't stopped at a precise Fib level and that provided some heads-up that it might not be complete. We corrected from there and retraced almost 50%, which coincided with the 0,236 Fib level of the entire wave down, and then bounced hard again. We cannot be certain that the 4 is not in, however given the structure it is more probable that it will finish higher. I expect the previous peak to be taken out and the 4 to peak either at the 50% Fib level or, my perfect world target at the confluence of the 0,618 and the descending trendline . Of course, if the market moves past that and breaks the low of 1, that would invalidate the current count and the assumption that a new bear market has started.

The current preferred count and expectation that the 4th wave still has some way to go lines up well with the projections from mcm. If you didn't get a chance to check out the article, you definitely should.

Also more good news for ST             traders. I spoke with the administrators of mcm and they are planning to complete a set of tools for ST             trading for dax             . So far that set is available only for the US indices ES and YM. I will be looking fwd             to test those.

Good luck out there!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out