TomPip

GER30 price failure, -3.75% removed from bear market

FX:GER30   DAX index of German listed shares
135 0 3
Price movement and potential in %.

+5.45% : Still up for 2015. For how long? :)
-20% : Beware of the bear market.
-11.7% : Downside sell off so far.
-5.55% : Important trend line encounter.

I have entered a 10% long call position at channel support to follow my trading system, but the channel support has completely failed and price is on it's way to test the broadening wedge support. I'm switching my view from short since the beginning of the week to neutral. I will consider a bounce on Friday not necessarily bullish , as a Monday sell off will demotivate bulls extra. Overall i will have a neutral view for this Friday and the last week of August, seeing it both continuing the sell off or retracing some up.

I will update my DAX             RSI perspective during the weekend.

Safe trading.
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