The news with respect to the turbine issue induces a sharp price slump. In the chart we have all characteristics of an BnR pattern with a downmove of one channel . Recently, also the price has reached and taken the minimum Fibo Retracement which is a necessary condition for a local bottom
Good morning! On this chart we have an uptrend that is emerging with this long wick candle and a large volume that is greater than all of them. You can see that on the chart...
Short to retest and turn into a buy opportunity.
Potential Head and Shoulder with earlier take profit, buy and follow up sell.
As always I have to check for confirmation and adjust.
MTU Aero Engines (MTX - Xetra) is in ABC wave pattern from top in 2 hour time frame. It dropped in A wave in five wave sequence from major top in 2 hour time frame and corrected up in abc flat correction with c in five wave as shown in 60 min chart. Now C wave down will start, but wait till confirmation to get in to.
After the decision that the share will be taken into the German Dax there was an impulsive sell off which now corrected to make a retest at the previous support level.
