The triangle I highlighted yesterday played out. The DAX rallied, came within 10 points of the upper trend line and then retreated a bit. The retreat of wave e of the triangle was very small, it undershot the lower TL by a lot, but that can happen. Now that we have the triangle break-out, the direction is up. We need to complete a 5 wave impulse to finish the C...
The decision of Bitfinex, Kraken and many other Bitcoins startup, to leave New York because of BitLicense has resulted in a negative sentiment among the market participants which prompted a bearish move on Saturday with comparably low volumes. This move as shown in the hourly chart, was opposed by heavy support at 261. The lower Bollinger band flattened at this...
Wait for test and sell heavily Weekly - Monthly Pivot around 1.1 as current pin bar at Daily Pivot (1.0913) will drive this bullish move up until bears join long term bearish trend and defence 1.1 resistance level. Stop can be very conservative around 1.4 levels 1.1 will be also 50% Fib retracement level from previous move 1.11288 - 1.08472
I found this pattern that has been going on for the past couple of months, There is a steep fall followed my a small retrace followed by a fall followed by a larger retrace, The first blue area went up higher than the other ones because of coinbase news. The short term bull might already be over.