Please refer to comments on my other post regarding the Dax. This 2 hr chart will hopefully provide far more perspective. Sorry new to this and I published the monthly chart first without finishing it, instead if the 2 hr. Anyways here is the 2 hr chart
Hi Traders, As I posted just few minutes ago, I expect and hope to see one more high coming into play before we see him going lower. Looking this daily chart, we can see that we are in a very strong resistance zone, BUT I think that we can make a new high, scare a lot of traders and then reverse lower. This is what I expect and I will trade this (if he makes new...
Double top at resistance, now a potential AB=CD pattern playing out following the rejection at the 78.6% fib level. A counter trend line break will provide confirmation for entry with the target being the -0.27 fib extension at 9000. Fluent with structure and a 61.8 retracement fib level from the previous up swing.
dax reacted well from the 50% retracement line of the mid october lows to highs move. Scenario 1: correction is complete, dax will go higher from here. Scenario 2: the down move from 10100 area to 9200 if the first leg of a 3 waves correction, we need another low (61.8/ 76.4%) before the index start to rally again.
See the chart for engulfing candle day trade strategy. Risk is 1 to 1 so it requires more winning trades then losing. A manual back test of the strategy looks impressive over the last couple of months.
A close below the blue channel can open a door for shorts in DAX looking for 9700/9400. Also we have the macd divergence in 60 minutes. Agree?
Dax need to rest. Today DAX is at 9800 level and we can see a pullback until 9350-9400 area. I will enter long again near the 9300 gap. I DO NOT advice short positions, i prefer to wait.
With the close of 9210 gap more upside is in the table, my target is around 9550 - 9600 for now. If anyone want to get / add longs try to get long in pullbacks. Only a close below 9114 gap will change my view.
I am still holding longs from 8420 area (BE), i will add if one of these boxes will be reached. FOMC should help...
After breaking 8900 important resistance zone last week DAX recover compleet from the 8400 resistance. The oversold RSI bring DAX up again. DAX had a false breakout from 8900 , and DAX return back in 8900 supportzone. The new earnings season bring good results mostly , and DAX will recover to make a positive balance for 2014. We wait for second test from the...
3 TARGETS ON DAX INDEX : 1) 8500 (already reached) - middle of channel 2009 low and 2014 high - 23,6% fibonacci retracement from 2009 low 2) 8100 - important highs of 2007 - 38,2% fibonacci retracement from 2011 low 3) 7600 (very important support for Long Term trend) - low trendline of channel 2009 low and 2014 high - 50% fibonacci...
50% back from 8855 to low is playing as resistence for the second time. I will start to buy again if we will broke above this level
I open a LONG position near 8400 with a stop loss 8250. Megaphone formation is on the way. Another insight is with the end of QE3 the correction is already near the last levels of QE1 (minus 17%) and QE2 (minus 22%).
DAX is now for second day under the very important 8900 support zone area. If DAX in the next day not return to 8900 zone , we can confirm the bearish outlook. Summarized : bear: DAX break his long trendline 2011 DAX starting making lower lows The very strong 8900 supportzone turning in heavy resistance zone. negative for bear : oversold RSI If we have a false...
I try to get LONG at 8730 but i sold my position i will not enter short this time. I prefer to wait near the orange line, i see a GAP in the week chart.
Today is the day to get a LONG position on DAX. My 1st target is at 9890. TRADE CLOSE 14th October. See my new chart.
Time to buy this dip and get long 1st target 9890. In next posts i will update with new targets. Friday i close my short position and lock profits. Monday 13th is Columbus Day and US markets holiday. Monday i will get a LONG position.