Shorts at the recent Level have a very good CRR! but trading above 10.285 will perhaps iniitiate a new buying wave up to 10.330.
Trading above 10.330 will open the TP 10.440!
Dear followers! I Need some comments or other ideas !
Pullback to 10.325 ?
After Dax built a Top, the illustrated was triggered. We saw a consolidation which was Long overdue imo .
The latest downswing nearly reached the 38,2 fibo ~(10.100) from the upmove 9300- 10470. This Level (concretly: 10.022) could but need not be a potential turnaround Level (The signs an oversold Situation) - perhaps the consolidation will go further down to the normal or max consolidation Levels fibo 0,5 and 62,8 --> 9884 / 9747. The probability is given as Long Dax is trading within the illustrated latest shortterm downtrend. If this trend will break, dax0.34% could aim the fibo-Clusters at the upside (10236/10281/10325). Here a desicion has to be made!
As Long Dax is trading below 10325 i see a temporarily continuation of the current (shortterm) momentum. Prices below 10.022 could accelerate the downswing - a first target would be 9.984 (0,5 fibo)
Comment. was this the final overshooting today which triggeres the wedge?
DAX reached Action Point!
Dax reached the falling which is valid since 21.04.2016. For me, thats an Action Point where a desicion has to be made. An upcoming consolidation is thinkable at that Level (possible tp on the downside is - as always - the 38,2 fibo) , but not neccesary. The signs further up-potential in the - there is still a momentum - every dip was bought these days.
If DAX could beat the midterm downtrend since April, the BIG Downtrend can be aimed!
Beating this longterm downtrend means a resumption of the maitrend - a Long Lasting bullmarket since 2008.
New midterm-longsignal above 9775
red vs. green counting..in my Chart i have illustrated the present resistance and support zones.
If Dax could overcome the resistance @ 9775 , a shortterm longsignal with tp @ 9.950 appears. The following TP could be 10.350.
Above 10.350-10.450 the midterm downtrend will break - that will generate midterm/longterm Targets @ 11.300/11.750/12.300
Above 12.350 there would be a BIG LONGSIGNAL --> TP 13.700!
If Dax is trading below the last green "3" respective the last red "2" i exspect a sellof with tp @ 7.250.