As written two days ago; I was looking to reenter the short trade. Actually I was looking for 15240 but today they gave us the opportunity to move short at almost 15300; which was very kind. I don't know if we gonna see new lows, but I think a traget around 14940 is possible. As you know from my former posts, I am keen to see 14,600 and if it would hold, confirms...
I am still waiting for the next short opportunity in the SPX. As of today, I would enter a short trade around 4,230. The upper part of the violet channel. Support as of today is: 4,120 and 4,060. The catalyst for the next move towards 4,230 might be the earnings of some big players and the Fed.
MPOV Channel: Violet Resistance: 13950 - 14080/ 14500 Support: 12900/ 12400
MPOV Channel: Green Resistance: 15600 Support: 15150/ 14650
Enter: 85 SL: 78 TP: 91 Beware of earnings which will be reported on the 24.02.2020
Support: 12,450 Resistance: 12.900 We are currently forming a wedge (be aware of fake break-outs which happened a lot lately). The support is derived from May/ June/ September 2019 (Resistance) as well as from June/ July 2020 (Support). If this support breaks down we might see 12,300 and 11,800 next. It seems that the upside is currently limited by 12,900 which...
Support: 12.300 Resistance: 12.700 Yesterday we saw a fake breakout of the triangle. We are back in the channel from July, 21 and of which we broke out on August, 24.
Support: 12,300 Resistance: 12,800/ 12,950 Wait for the breakout of the triangle.
Support: 12,950 Resistance: 13,200
Support: 13,000 Resistance: 13,3400 Wait for the breakout of the triangle. Beware of fake moves (we might see the direction of the next leg not earlier than next week).
Currently we might set-up a cup with handle pattern in the DAX. If we break out; my target would be 13,400 -13,450 (extrem scenario 13,550). If we do not break out, I simply do not trade this pattern.