In the higher time frame, it looks like we started a new upward cycle from the October low. This means the wave ((2)) low is in after an expanded flat. The alternative scenario assumes a wave (2) low of a lower degree. This results in two possibilities: we are now working on a wave ((3)) or we are close to finishing a wave ((1)).
Trading is nuanced and requires as much art as science to execute successfully, which means that there is only a profit-making trade or a loss-making trade.
I want to try this sell, in my opinion probable reversal.
The real key regardless of any strategy is to have a decent risk/reward .
You win and you lose , so be cautious.
No financial advice, do your own research.
My bias shifted to the shortside, following the movement lower in the New York Session yesterday.
Targets and annotations made in the chart. 16825 possible short targets.
expecting the follow through lower during the New York Open.
Key anticipation: London Medium News driver as the catalyst lower.
Key levels and annotations made on the chart.
Once the stop...
Pair : Germany30
Description :
Impulse Correction Impulse
Symmetrical Triangle as an Corrective Pattern in Short Time Frame with the Rejection from Lower Trend Line
Completed Break of Structure and Retracement
Elliot Waves - " 1234 " Impulsive Waves Done
XETR:DAX - The gap-up at the beginning was immediately closed again. Yesterday's previous day's range was almost completely filled. A fall below the previous day's low at 16859 could accelerate the downtrend intraday and target the lower #BouhmidiBand at 16784 next.
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As someone interested in the Elliott Wave principle, I find it a valuable tool for analyzing the market. I have developed my approach by combining this principle with my personal experience and by considering various...
Start your week by identifying the key price levels and trends.
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Trend direction is set by the slope of the VWAP.
Trend phase is determined by the current price relative to the VWAP (20) level and Elliot waves.
Support & Resistance are set by the...
Anticipating a movement higher to the close today. My bias is leaning heavily on the long side.
Observing for a possible shift on lower timeframes for bullish momentum. Expecting momentum Pre-NY Open
Annotations and possible key levels are in the chart with entry on 16904.9.
Idea is invalidated once the protective stop level has been breached.
As usual, manage...
The DAX index wakes up to extremely negative German export data , while the German trade balance for December benefits from Christmas orders. Crucial data is expected this morning: the January PMI in Germany (slight decline expected) and in the Eurozone (expected to remain unchanged). In addition, UK and US PMI could impact the day.
From a technical point of...
In the higher time frame, it looks like we started a new upward cycle from the October low. This means the wave ((2)) low is in after an expanded flat. The alternative scenario assumes a wave (2) low of a lower degree. This results in two possibilities: we are now working on a wave ((3)) or we are close to finishing a wave ((1)).
DAX started today with an opening gap and broke through the previous day's high. However, the leading index showed weakness after failing to conquer the upper #BouhmidiBand and initiated a chartbook Bouhmidi reversal. It looks like the intraday gap may be closed.
Attention, trading tacticians: the GER40 index is displaying a textbook Rising Wedge pattern on the hourly chart, a compelling setup that typically precedes a bearish reversal. The pattern, characterized by the converging upward trend lines, signals that the bullish momentum could be losing steam as the highs and lows converge.
With the index recently breaking...
Short Term Elliott Wave view in DAX suggests the rally from 10.23.2023 low is unfolding as a 5 waves impulse. Up from 10.23.2023 low, wave 1 ended at 17003.28. Wave 2 pullback subdivided into a double three Elliott Wave structure. Down from wave 1, wave ((w)) ended at 16448.71 and wave ((x)) rally ended at 16839.49. Wave ((y)) lower subdivided into a zigzag like...
