I got a feeling that the earlier upwards doesn't match any correction wave system, so this could be a really long A wave and we would be heading for B. What do you think?
Nice harmonical move on the german dax. The potential buying zone lines up at 9500 even handle. Watch on lower timeframes for entries. Stops should be below recent OR (below 9400's).
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Price has been trading in the range. just below 1000 mark for few days.
Previous 3 attempts have been rejected categorically. (2spikes)
Bears have not yet made a lower low. ( HH, HC) - Marked in blue.
With Month End approaching and number of News lined up, the we may see a clearer picture soon.
IF price breaks and closes above 10000 mark, it will look to...
If dax breaks the trend line (9500) suggest a sell all the way down to 9000 and below, however more likely scenario it bouncing up the trend line to 10,000+
I do not know what will eventually happen,But until then, staying the OODA Loop I've tried to take pulse of the chart.
The bullish intentions have been made clear. Lets see which setups plays out eventually.
Would have been stronger if this close was above the large red candle on left. (off by some 40pips)
Hence this keeps the options of deep retrace very...
I just realized i had posted this chart as private 2days ago. Wish they have a convert function. :) Hey ho.. here is the progress since then. Still valid.
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We don't fully know which of the fundamentals news would be used to drive this up and then down.
However, IF there happens to be such news events, this could be a set of potential price action movement...
In my last chart around 2 years ago entitled "SP500 BEARISH OUTLOOK - CLOSE TO FORMING GENERATIONAL TOP" (see link below), I suggested that a possible top could occur around 2000 - 2030 area which I believe is still within acceptable range for such long term analysis.
It appears to me that the likely topping pattern we are witnessing could be part of a very...
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.
