My first try the long way. Only for learning.Don't trade this please or you know what you do.
My favorite site is normally new high and than down. But if my count is correct we go down. That's the way to learn.
Thanks for your time.
13250 resistance zone
But..
Candle is still pretty bullish.
wait for a small consolidation with rejection candle before taking a short.
Do note, it is a counter-trend trade, the structure is still very bullish.
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice.
The risk ...
Dax touched resisstance and making a triangle just like a year ago
see old analysis i would go long at the breakout. So i keep my eye on this one again
Happy trading
Long after Double Bottom at Weekly Support Level.
SL: A few pips above Double Bottom.
TP: Next High if we see a strong rection there. If not -> let it run. Close trade when we get a Daily Close under Daily EMA5.
DAX 30min, BEAR DVG, maybe down to break-up-level 122260 ?
It's a strong uptrend, but will this DVG, change to some down again ?
This is maybe not a higly good R/R ? , but will watch those next candles, look for more signs.
Based on Elliott analysis, we might be close to the end of the multi-year bullish cycle. If the count is correct, soon we could see the beginning of an abc bearish cycle.
Hi all,
first a longer term look to understand the big picture.
On a weekly chart, very bullish bias, retrace respect 0.886 fibo extension,
DAX like to respect this level ...
i will expect a bear party soon, before the bulls will take over.
for a short entry watch the 12000 area might be sooner then later.
I will update the chart on a weekly basis
BULL dvg in MOM , RSI & MACD in 60min chart, often be a bullish sign.
BUT it's obviose a HS topformation, so here we have to be careful,
and watch careful for bearish sign's again, and if it turn down again....
This could also be used for a new better short-position again,
if that should appear :)
If it stay's over 650-700, that could also be even a stronger ...
