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 [July 18th, 2015, 10:46]: 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[er] stoploss)
Comments
The_Cannalyst
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LIKE!! THX for sharing!
This is my opinion:
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 :-)
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.
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.
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.
This is my opinion:
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 :-)
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.
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.
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.