i think it will retrace to 38 or 61% area then commence down to at least 43
i think this might retrace back to 38% or even 61% area then commence down to at least 43
i guess we have a new channel. let's see.
Since we broke down that support and retested that middle BB, i think we head lower at least to the median line which also would be 61% retracement of that up wave. We will see.
since we bounced off the pivot and middle BB line i think it will go up. lets see if that channel holds.
on daily stochastic and RSI are pointing up. macd is about to cross up.
had to update my previous idea. timing was off. I hope this time it's right
theres a good chance it is bouncing off 61% fib retracement,(18th April 2016) which is right at the support. I'm still long to 46.
Price action points up imo. Current channel top would be around 46 which also would be a bigger resistance.
good luck. we will see in the next hours or maybe days.
i think thats map for the next hours
updated version with a channel. Breakout under triple bottom support.. I think it will retest that line and commence lower to about the lower channel.
Since it did breakout, i will be waiting for a retest and then enter a short trade.
This could be a triple bottom or a triangle with a flat bottom. Its a buy down here with a SL under the triple bottom or a breakout trade to the downside.
short term looks like down,.. daily is more sideways, maybe even bullish
since there are multiple sell signals on ichimoku i have updated the channel to a steeper one.
i think thats the new path for next week
let's see how it will develop
50% fib retrace is very possible
My small idea for the next few days.
Dax is oversold, broke and retested the downtrendline .. and the 11k mark.
Notice the divergence supporting the move.
It may bounce from the upper Trendline if not earlier.