13 YEARS TRENDLINE BREAK
DOUBLE CAPITULATION SELLING CLIMAX
BULLISH DIVERGENCE IN MACD AND VOLUME ACCUMULATION
XLF BREAKING INTO ALL TIME HIGHS AND STILL TARGETING HIGHER
GLOBAL ECONOMY TO RECOVER STRONGLY AS COVID SUBSIDES AND LOCKDOWN LIFTED
DB DROPPED FROM A PEAK OF $140 TO $5 LOW AND READY TO RISE LIKE THE PHOENIX FROM THE ASHES!
Chart painting from the early 21st century, artist Maxi Scalibusa. No investment advice or a recommendation to buy or sell any securities. This is entertainment.
Potential gain:10-12%
Reward/Risk:2
Timeframe: 1-2wks
I always try to present the charts in a simple comprehensive format to prevent any confusion.
This is just my technical view, neither a fundamental comment,nor a recommendation to trade..!
Please review my track record and calculate the odds for yourself..!
You’re likes and comments encourage me to continue...
DBK - It seems like completed double zigzag WXY cycle from major low in 2 hr time frame. The drop was impulse A down and bounce is like B wave in progress. It is already underperformed to DAX index, so expecting C down after small corrective bounce as ABC zigzag down.
Give thumbs up if you really like the trade idea/analysis.
Seems like todays earnings could be the catalyst that proved a rising wedge is forming.
Wedge seems to end mid/late may, where a pullback to around €7,8 during summertime could be expected, before possible continuing the uptrend in early september.
Banks should be defaulting left and right!
Derivatives exposure is massive, the economy is broken and lending conditions are awful!
Therefore: BUY, BUY, BUY!
Volatility, volume and price divergence indicate share prices will continue to rise, likely because of central bank intervention!
