IMO that RED line should hold for another attempt to penetrate the GREEN channel. Its a minimum requirement for ongoing bullish trend and for penetration.
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....
In the previous time I covered GER30 it was heading towards the completion of a bearish Bat pattern (see linked idea). We had two sell zones - 11,000 (structure and 200 SMA line) and 11,400 (Bat pattern completion. The anticipation that Draghi will fire his Bazooka pushed GER30 beyond the 200 SMA line and the strong resistance zone of 11,000 and it completed the...