TomP
Long

Potential Cypher in DAX

FX:GER30   DAX Index
62 5 0
We could be in a potential Cypher pattern . If that is the case the price could rise from here up to the 11845 level to complete the move. A short opportunity could then be on the table at 11845
Not sure if resistance falling wedge will be broken
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TomPip TomPip
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TomP TomPip
That's true. I would rather take a long here up to that cypher completion then see what the price does around there. There are plenty of places for it to reverse or fall further at the moment but I still think the index is heading up, just not quit sure when it will resume upwards.
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How about now?
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TomP TomPip
Possibly, looks pretty strong at the moment. Plus the Cypher I drew in could also be an a-b-c with an entry at the bottom of the c wave and then just ignore the cypher completion point.
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