MaryJane
Short

Example: Support turned into resistance

FX:GER30   DAX index of German listed shares
470 6 35
Nice example... have a look at 9980...bought 2 times, - now it turned into a resistance!

here i commented following :
Little Consolidation ahead?

8 hours ago f
9980 seems to be a reliable supportzone at the moment..but i exspect we break through it
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8 hours ago
the risk loving trader is buying that support @ 9980 for a scalp - i am just interested in the breakout move below the support...trying to catch a few dax             points...
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7 hours ago
that was a nice scalp - dax             reached the bottom edge of the illustrated shortterm trend...more than 30 points for 2. breakfast are good :-9 i feel comfortable with catching the breakouts directly....i open half of the position directly with the breakout, and then i wait for a possible rosshook like you have illustrated it o double the position size. if you always wait for a retest it could happen, that you will miss the bus - and thats nasty when your idea is right, but you get not filled... :-)
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7 hours ago
...the rsi also signs a oversold situation, a retest of 9970-9980 could come now
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3 hours ago
reached max. tp H&S ...
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an hour ago
The RSI told the truth again..
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What's the outlook now Mary?
Reply
MaryJane salarfeen
hello, please have a look at my youngest Analysis
Another weak day?
Reply
salarfeen MaryJane
I don't quite understand it.

Do you think it will go to 10350 now or 9600?
Reply
MaryJane salarfeen
Hi, if dax could trade above 10.100 - then i think we will go to the 10350. as Long as we trade below that Level, the possibility is given, that the consolidation will go on . Prices below 9.900 will generate the tp at the downside at 9.750 ...
Reply
salarfeen MaryJane
What is advisable now? To go short or long?
Reply
Great,we are in wave 5,good to take profit @-27%fib and -61% fib
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