Hi traders. weekend is here. time to relax and look back.
They say older people are wiser, since they know what happened in the past, hence they git a wider view.
Weekly chart we can see a great divergence, meaning we should welcome the BEARS are enjoy the downhill ride. It doesn't mean it will happen on Monday, but bear in mind - it will come sooner then later. and when the bears will hit, it will be painful. targets are as always the 0.618% fib retrace.
BUT, we gotta keep respect Daxi, and price action. so looking at daily time frame will be our helping hand.
Enjoy your weekend !
Comment
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The Daily Chart is Very Bearish !! A-a, A1-a1, B-b, B1-b1 shows clear BEAR divergence ...
@DaxiDriver, do you think DAX will make deep correction and close the gap?
fatboy007
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0.618 is a minimum target but i am more incline to look for 0.88 -1 area as it will give us projection to phase transition and it usually 8.6 unit of time , as my teacher always saying this is the line in the sand!!!!!!!!!!!
fatboy007
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a minimum target on near term time frame is 12718 and 12841 give us a reversal area to look for a trade . depend on how it will act in this area we will make a informative decision on what position to open ......