Finally falling trend ended.
2 options :
Cup and handle target is confirmed and ready to go to TP1, 12.95.
Fibonacci says we'll go to TP2, 14.40
SL : 6.7
Trendline Break
At Support Zone
Entry 13.4
Stop 11.4
Target 20
Risk management is much more important than a good entry point.
The max Risk of each plan should be less than 1% of an account.
I am not a PRO trader. I trade option to test my trading plan with small cost.
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. Start 11.420 EUR
Get ready for a long position! Since bearish short-term is strong only enter a short position if a weak bearish or a bullish daily candle come into being in next few days.
Beyond the technical: (do your analysis, I’m not educated in the case of fundamental analysis academically)
Fair Price to Intrinsic Value: 0.66 which is a great score!
To summarize my...
If this 161 failed to be support and instead becomes resistance, this has potential to turn into a really ugly short trade in DB. Only one of many sketchy bank setups...
I drew this setup about 10 weeks ago and since everything worked as planned so far I decided to share it.
DB is in a symmetrical triangle (weekly/daily chart) or maybe even in a falling wedge. The previous trend was bullish, nice HH (higher highs) and LLs (lower lows), what gives rise to the idea, that there could be a bullish breakout. The BO is confirmed, if...
If the wave analysis is correct or even half correct :-), we have lots of extensions of 3rd waves which is usually a good sign for a slow but steady long term uptrend
Entry point = now around 10,2
Stop 9,702 (would invalidate the wave ii)
target = well this would be a buy and hold strategy in this case
That one looks not bad either for a short term:
target 12
stop under the 2 wave
or long term - buy and hold
the highs and the lows are always higher - so simply bullish
This is in a long term and persistent downtrend and now we've retraced to the 161 fib of the last swing low. We're showing strong rejection off of this and this may be about to send us into another big drop. This along with other big sell signals on things such as Goldman (Linked) may be hinting towards a storm brewing.
It will take another few months (weeks) for the market to realize that the true value of DB is zero. The panic in the markets will force ECB to bail out DB, which will bring EURUSD to 0.88, and only after that the Dollar will start weakening for real.
Deutsche Bank saw a rather weak performance since June and was not able to maintain the positive trend of the first half of the year. I expect financials to perform well this week , after the sector also put in a positive performance yesterday. The US banking giants start the fiscal Q2 2021 earnings season today. The first are JPMorgan and investment banking...
We have exceeded the February 2020 high at 10.37, the March high at 11.25 and got a new high since July 2018 now. Even if the momentum is declining at moment another attempt to reach the 2017 high again may be expected.
