It's been a while since I updated the long term count. My intermediate bearish view was confirmed in the mean time with DAX putting in a spike above the previously indicated magenta TL from the ATH, however quickly losing momentum and failing also to keep above the 200d MA. The decline from ATH was very choppy, with waves which were difficult to count, so there...
Approaching the apex of the symmetrical triangle drawn here. I am hoping for a break out to the downside at point 7. I would then expect a pullback at previous structure, and then have a main profit target at strong levels of previous structure. The upward break at point 6 is also potential for a small trade.
Germany’s DAX sees Insane dropped since 08, BUT no to worry- next week is going to be an awesome week for DAX as Europe's Market for New Cars Grew 9.3% - Extravagance automobile producers like Mercedes-Benz and Porsche score up huge gain....... **Please I encourage you to shoot for this trade - and place your SL accordingly ( I hate to suggest 'SL ' 'cos...
DAX soon flys like an eagle, with no fear! Testing the 10500-10400 it suddenly realizes it's just a chicken. You seen how chickens fly?
So far as OIL is being under 40 $, I dont see much of an upside. I've been waiting for some magical spike on OIL to boost the markets. . If magic happens and we get it to the 40's , then we may penetrate through 11064 and even 114xx, and start thinking going to the new highs. Then ofcourse we have ECB that "will do anything to boost the economy" -wildcard....
After the never ending rally finally peaked, dax had a vicious decline yesterday. Volatility was very high, almost 700 points intraday range. The big question now is - is a more tradeable intermediate top in or not? In my opinion, the answer is yes, but we will not have confirmation until the market breaks down into an impulsive decline (5 waves). The strenght of...
The reaction post FED was a bit unexpected, at least for me. All indices ramped up (dax not so much actually) and then reversed with conviction. The big question now is - what's next? Is this choppy 4th wave finally over? A look at the daily provides some clues. The peak of the bounce was just above the 50% Fib retrace, while the decline from there looks like...
As previously warned, once the 1st TL was broken the 2nd one comes up fast. Down trend looks back, but this is still a chop zone, so risk management must be paramount. Choppy 4th waves can chop a lot of accounts. GL to your trades!
There are some reasons to thin DAX may go little up, to 11370 - 11400, and then short - to minimum 11130. 1.618 of fibo ext of last small rejection ends at D of Bat equal overbalances (green boxes) generally bearish trend - aligned to bearish bat close to downchannel top line
If we break down below 11,150, we'll likely see 10,786 and below on the DAX. It would likely find some initial support at the next order block and 161% fib extension of the recent upswing. Given that Greece decided to bundle its payments to the IMF, the uncertainty around this issue may drive this leg down. Until now, Greece had been all about "talk". Now that...
A Potential Bearish Cypher Pattern on the GER30