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.
GER30 is in an extremely bearish trend. After a classic Head and Shoulders pattern formed, prices pushed down and broke the H&S neckline right away. On 1 Feb, an expected pullback was completed and a very usual and huge amount of short orders were placed at 9837 after 15 mins of futures market opens, therefore I warned the traders to be cautious. Option 1:...
Since 2009 the ISM PMI has never hit under 49.0 3 times in a row , let see what China Manufacturing brings this Monday Feb 1 in the morning. With Iphone sales slowing and the FED meeting on Mar 16 I don't know if the PMI is anything to read into but i worry about it , if this prediction does not work then its market thinking about QE instead of the global slowdown.
The DAX30 index is moving in a descending wedge, which is a bearish formation. We can see that the market respects the formation, in which an overshoot of the upper trendline resulteted in an overshoot in the ABCD move (Which then hit the support line). We have a major ABCD move going in bearish direction down to 8350 and combined with the formation, it would be...
The PRZ of the Bullish Gartley in the DAX holds following FOMC. Price finds support on the top of the PRZ and, for now, it is above the Fast SMA line for the first time in weeks. 10,300 and 10,700 are next target zones for this bullish setup. Needs to be confirmed with bullish daily close. Follow me on TradingView Visit my blog - goo.gl Subscribe to the...
Bullish Gartley pattern Stop loss below 9400 Potential targets - 10200, 10600
I've paused trading the DAX but can't help [ but notice it's price action on this rising trendline on the daily chart. Break below this and things will surely get interesting. At the end/top we have this triangle pattern.
Went overbought on 15min chart being flat...
Long term long still open but will scalp futures in the process.