Hands down, I am not a big fan of the world going to hell. Well, .....#itshappening.
It prolly won´t end nice, but this one is quite the beauty. Everything is lining up "perfectly"! Not only chartwise, but also doomentally. Full spectrum rektage ahead.
With regards to the DAX1.29% , the July is going to draw a bloody -25% (pre-)doom candle from 10,666 down to...
Heavily oversold DAX
Previous SHORT from 10300 and 10100 to 10.000 Filled
New LONG positions opened 9830, 9910, 9950
TP1 Modest 10.000
TP2 10.150
TP3 10.260
After breaking through the resistance -> Long . After breaking through the support -> Short .
The stock currently shows signs of a downtrend. The downtrend will be boosted after breaking through the support.
These figures are approximate
DAX's failure to take out 10,108.25 (38.2% of Oct high-Feb low) throughout last week and yesterday, which also marked a failure to take out falling trend line resistance and rising trend line resistance has reinforced bears.
A day end closing below 9796 (38.2% of Feb low-Apr high) would add credence to bearish developments mentioned above and open doors for a...
- rather uncanny similarity on the stochastic line
- larger trend remains bearish
- potential fake dump and pump in process but END GAME is MUCH LOWER
- worth watching
- worth watching the indicator giving the signal of a potential turn
- using VIX also as external indicator
- invalidated if price broke below 9660 imo
- patience on this setup is required though as it is against the current trend
This cypher pattern on the DAX could form in the next week or two.
Trade set up indicated by the boxes on the right (enter at boundary between green and red, SL at top of red and TP and bottom of green).
Resistance - 9921, 9990, 10,112
Support - 9770, 9675, 9484
Prices are struggling to re-enter rising channel or rising trend line area, thus signalling bears may be getting reinforcements.
Drop to 9770 levels looks possible as that would mark completion of gap filling exercise (gap up opening on April 13th).
Short-bearish invalidation is seen...
on the large scale theres a funnel formation indicating a rise. since 2016 this pattern also looks to me like it could be a buy option until around 97.50 (786 on fibs) to do this it will firstly need to break the downward trend resistance line.
ECB is in wait and see mode for now which means equity markets in Europe need to rise without further stimulus expected in the near term. If macro data will outperform the brake above 10500 points in GER30 is possible, even though weekly price action is bearish.
