A Dax long entry setup is on the horizon.
The German index appears to trace a motive wave from our minuette wave (c) label low. It may be an impulse (depicted in black) or an extending leading diagonal (red). Right now, it counts as a complete extending diagonal from the March 26th low.
The opening gap during the current swing up as well as second waves, in general, suggest deep retracements.
This may become an interesting trading setup. A fading 3-wave drop is what we're waitin' for. We'll activate the trade around a Fibonacci 50-61.8 pullback if it turns out to be a 3-wave move.
Waitin' for the pullpack!
The German index appears to trace a motive wave from our minuette wave (c) label low. It may be an impulse (depicted in black) or an extending leading diagonal (red). Right now, it counts as a complete extending diagonal from the March 26th low.
The opening gap during the current swing up as well as second waves, in general, suggest deep retracements.
This may become an interesting trading setup. A fading 3-wave drop is what we're waitin' for. We'll activate the trade around a Fibonacci 50-61.8 pullback if it turns out to be a 3-wave move.
Waitin' for the pullpack!
Comment:
still waitin' for the pullback here...
Order cancelled:
That sucker went straight on without a pullback. A pullback gives you the best risk/reward entry in short-term trading... Don't be sorry if you miss the train. The next one is comin' for sure!