This is a 6H chart of the DAX. Markets globally are heading south. Even the super-resilient Brazilian Bovespa is beginning to buckle. In this screencast I show what the price action is like for the DAX and why I think the market is exhausting. I may well be totally wrong - but I'll limit how wrong I am with an acceptable stop-loss.
Three main issues plague the...
The big pump down on the DAX on a 3D time frame is seeing an alternate three-drives pattern up retracing into a 61.8% Fib and a zone of congestion. All we can do now is get our axes ready for a nice short on a lower time frame. Preparation is 'everything'. :) You may win, you may lose. No pain no gain!
The weekly time frame head and shoulders, plus weak rebellion of price creates probability on lower time frames for the south. Price has moved back up to test the base of the H&S. This is the traditional expected move before a retreat comes.
The DAX has been leading Wall Street and other markets. If this falls soon, expect shockwaves globally.
My favourite instrument to trade if i had to pick only one it would be this index.
Anyway just sharing analysis and plus something for me to look back on entered 2 positions so far today on the short, we could see a retest above on the monthly zone before that drop but as for now I am in.
TP1 and TP2 are there for the long term bias, however for the week 10300...
The exchange rate is a multi-week intensive decline expected. Nearly 18% down from the current level. This means that the target price of the motion is around 8900 levels. From this level you can start later with a stroke of 40% more significant increase. But you have to wait. Currently, we are looking for short passes in the exchange rate for a few weeks. This...
After making a double bottom off the 11265 line the Dax has pushed higher with the aid of US markets to test the first resistance line at 11414 after a high today at 11420.
There's a second line of resistance just above here at 11447.
Either look to buy the dip if we see it back to the lower smaller rising parallel supporting the rally - or...
On the longer term chart the Dax shows a clear head and shoulders pattern, broke the neckline and then re-tested it. Now looks like over the medium term will head down to the measured target approximately 10200.
Move could be quick depending on global markets.
Dax has returned to within the broad topping pattern seen over 2017-18. While this is not ideal action, the fact that the market broke down in the first place and is held in check by our moving average still provides a bearish posture.
Our first target (yellow horizontal line) has been negated for now. Taking out last week's high on a closing basis will...
I have been watching the DAX H&S form for a while now. This pattern has now been confirmed with a break and weekly close below the neckline.
A descending neckline indicates fundamental weakness and could imply a swift drop.
I am short with a first target in the 10,700 area, and my ultimate target under 10,000.
DE30EUR is decreasing. The exchange rate generates a second downward wave of a triple wave structure. The target price for the second downward wave structure may be around 11783. Then we expect a correction wave structure. Its peak is the intersection of a D1ATR axis. Area of 12215 level. Then the third downward wave, which is the target price of 10882, is completed.
For some days, global markets have noted the Turkish lira’s plunge with more curiosity than concern, seemingly viewing it as Turkey’s problem and no one else’s. That seems to have changed. @seandcallow #Turkey #Lira #Erdogan $USDTRY
Main bearish outlook--
Another break of the long term rising trendline is bearish
Shallow rebound from 12610 low on June 19 has ended- setting up re-test and likely break of 12600
Next key support could be 12400
12600 level holds, maintaining trading range enrivonment
(level is significant because it was resistance after the February sell-off...
A strong move higher on Tuesday morning brings this chart into a very interesting daily resistance zone. If we believe the 5 wave sequence is complete then we should push higher into a wave B. The B wave attracts the last of the bulls who will soon be disappointed as price fails to go higher and then rolls over. Today we are seeing a brand new buy signal on the...