Today, Bank of England governor Mark Carney said a rate cut is needed after the Brexit vote and hinted that it could come as soon as this summer! This news got the FTSE and the DAX flying up to nearly 300 points. Also, the Feds stated this week that they may cut rates this summer as well, possibly even this month (July) so that is really great news for global...
Next buy area at green ballon, between February lows (8.699) and 12th February (8.967).
Brexit Financial Times poll 6 June: Stay: 45% Leave:43% Odds Betfair Stay: 70% Leave: 30% Something is not right, someone is lying and i bet are polls. Base on that i design a new up channel and a possible buy are to get long. Make your comments.
My stop profit was actived at 10.037 (DAX futures) during this night. For now i am out, waiting where DAX wants to go. May lows is the key for bulls and bears at this moment. Has you see DAX break the ascendant channel. If DAX close below 9.733 a re-test of february is a option.
DAX Look: return to levels of demand The key short-term support is at 9,900 points. DAX drop 1,03% which falls at about 14:30 hours of today's session. This has led to the price of our indice to close the gap at 10.057 points. Short-term the trend is bullish (until the price stay inside the channel DAX still in bullish mode) . We do not appreciate any sign of...
DAX is near to close the 10.057 gap. I will advice re-open (add more) longs at this levels
For the 1st in the last 12 months DAX make a new higher high. Of course DAX will have some pullbacks in this travel to new all time highs.
Expect that DAX will test again the all time highs until December 2015. I think december FOMC meeting can bring the 1st rate hike since 2006. My opinion bulls will lose control in 2016 and bears will come and bring DAX to 5.500 area (see the red line from the last lows) . SHORT TERM - BULL LONG TERM - BEARISH See chart to understand my view...
I think the next 4-6 months is short off a detour on 10 800+ is possible
DAX weekly already begin to build a ascendant channel. A big up move will come in this next leg up. I can make a projection to 16.000 to achieve in the 1st Quarter 2016, many will call me crazy. For me this number (around) can be the Top of this HUGE Bull market.
DAX Bear View - Daily TF Still Inside the Descendant Channel. Lets how it plays. See the DAX Bullish View and decide your side. Personally i´m bullish but i can be wrong.
DAX Bulls View - Weekly TF Bull Flag formation under way. Lets how it plays. See the DAX Bearish View to and decide your side.
Any close above 11.283 and i recommend open LONG. This is the obvious move if we get a close above 11.283.
Another day and the session begin with another GAP up. I will raise my Stop Profit from 11.121 to Stop Profit 11.460 (close below)
Today the session begin with a GAP. I will raise my Stop Loss from 10.797 to Stop Profit 11.121 (close below)