looks like dax has gone down to a good area to buy based on previous structure support and if you can see there is a potential bat pattern setting up and as we know bat patterns has a 80% success rate. With the fib levels in place and understanding support and resistance areas better i am going long now for a good potential of 700 odd pips
Comments
philswanson
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overall picture looks like corrective trend THREE WAVES DOWN A down B up and C down /A was april high to july low / B july low to july high /C JULY high to sept /oct low if C is .618 of A were looking @ 9600
Gweedy
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I agree, especially since the EurUsd is aiming higher. It all comes down to the CPI numbers and the FOMC meeting.
philswanson
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low could be round 1st week of September we will c
philswanson
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julys 3 gaps up were filled today /we now have 2 gaps down in august / looking for a third / will be selling rallies until around the full moon in about 7 trading days