leszekstanislaw
Short

GER30 H1 - Butterfly, ABCD and 61.8% fibo - short?

FX:GER30   DAX index of German listed shares
124 2 2
I think there is short opportunity on DAX             ( GER30             ), because
  • there is AB=CD
  • ABCD ends at 61.8% of fibo - statistically correction end at 50-61.8%
  • downtrend channel - we are on top on this
  • butterfly waits for its D point :)))

Edit :
Actually I did not play this, but valuable lesson was there should be always plan B. And plan B could be simple - after trendchannel breakout wait for pullback, take postition (why wait for pullback? to define short stoploss)
I bought shorts today.
+1 Reply
LIKE!! THX for sharing!
This is my opinion:
snapshot

Dax caught between SMA 200 & EMA 200

These days are exclusively political! Charttechnik is limited effective in such situations.
Resists: 10.850 / 11.000/ 11.250/11.325
supports: 10.700 / 10.610/ 10.535/10.550 / 10.130/10.000
The Level to watch is the SMA & EMA 200 - These instruments will pointing the way.
With a new Low below 10.600 a potential Crash lies in the air :-)
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Dax @ 200 EMA & neckline!!! Critical situation!!!

snapshot

This morning the fdax made a new Low.

A Dax Close below 10.850 (EMA 200) target @ 10.500.
Dax Close above 10850 --> target : @11.050.
Dax Close above 11.100 --> bullish again with target @ 11.400/11.650.


Is Dax forming a bearish H&S?

snapshot

My former Analysis is valid furthermore for the Long turn -Have a look @ the EMA 200 - this is the Level to watch on the downside! The 200EMA is nearly corresponding to the possible bearish H&S...
Should Dax break the neckline @ 10925 a dip to the EMA 200 @ 10.800 can be exspected
On the upper side the Chart turns into a bullish Sentiment if Dax can Close above 11.600, the last High.

Do Political trading days have short legs?

snapshot
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