Just looking at the last leg down and the pull back on the DAX and I noticed the lovely way the Fibonacci levels have been respected. Current at the 38.2 level. What will we see tomorrow, a continuation up to the 61.8 @11500 or thereabouts? Teh 73 level is something I keep in mind for stop hunters.
My previous bullish bias was negated by the break of of the TL, I am short from the retest at 11466 target 1 11200, watching price careful, as this is key support, if it breaches I will be targeting the next level at 10600.
A potential short opportunity at the completion of a bearish gartley which is at the 1.272 extension of the AB leg. Stops need to go above X. TG1 is at the 0.382 retracement from A to D. TG2 is at the 0.618 retracement from A to D
I am watching for confirmation that we have begun a Wave 4 Retracement on 1h Chart. There is bullish divergence appearing on the RSI & MACD between Wave iii and v possibly signalling a short term bottom. As Wave 2 was a short uptrending 3 Wave Zig~Zag Correction by law of alternation I am looking for a drawn out 3 Wave Flat Correction over the next couple of...
Scenario 2: Greece Cut a Deal. I will be looking for a re-test of the GER30 all time highs around 12400 near-term. Before returning to test support at the lows of Wave (A). Criticism & Comment Welcome
Scenario 1: Greece Default. I will be looking for a 61.8% retracement of the GER30 all time highs in a Zig~Zag Correction to the 10415 area. I am taking the 'correction' as Wave 4 of the Impulse Wave from October 2014. Therefore the lows of Wave 4 cannot touch the highs of Wave 1. The target 10415 is 1.618 of Wave (A). Criticism & Comment Welcome!
A potential cup and handle pattern has almost formed on the hourly chart! A breakout over the resistance from the Cup is a signal to go long. If we look back in time we have seen a valid Inverted Cup and handle pattern where a breakout resulted in relative big decline!
A potential cup and handle pattern has almost formed on the hourly chart! A breakout over the resistance from the Cup is a signal to go long.
We are starting to see Dax slowly recover from its selloff from 12.4k. Target 1 which I posted on a previous chart was hit to the T. Currently price is consolidating within the box range, Target 2 still valid only if Inner TL holds. Expecting it will. The primary TL is drawn from the previous years October selloff and represents strong support, if it holds I'm...
1. Bearish KD 2. Possible double top Go short on break through 11780 (purple line) SL: above the highs TP: 11680
Bearish Shark Pattern invalid - has been trumped by pattern on higher time frame Price have to go a little higher to reach PRZ then target 1 or perhaps 2. As always have to respect ratios to be valid I'm therefore short term bearish Fear not believe in what you see and trade it @BLawrencenM I use Twitter for quick intraday update and scalp plays. I hope to...
If you missed the initial analysis here's a video where I go over it. I think it starts at about the 20 minute mark, but you might as well watch the entire thing ;-) Weekend Review: "The Most Important thing You Can Do Is..." www.youtube.com We've been tracking this index for the past few weeks in the Live Room and so far we've been spot on with our...
Sorry a little late to the party but got caught up in chart chatter... but now it's done I publish anyway..cos target 2 could still be in spe. I'm bullish longer term on DAX Fear not ... but believe what you see and trade it. @BLawrenceM
The master trend is still up. Potential long trade if price breaks and closes above the counter trend line.
Bearish Shark setting up Last ATH before heading lower. Ses notations on chart and link for my other DAX charts below. Fear not .... believe in what you see and trade it @BLawrenceM Music at wok: www.youtube.com open.spotify.com
DAX Daily Have looked at the monthly chart (See link below)... This is a follow up for the daily chart. Looks like 4th wave is done with a zig zag and right now have made a wave 1 up on it's last and final wave 5. I assume that wave 2 is about to be finished. The 60 min looks like it still could make a move slightly move lower. I made a highly speculative fib...
I wanted to hold this for my webinar with Tradingview today, but it looks like we're already starting to move so I'll give it a share as well. By the way if you haven't registered here's the link blog.tradingview.com Live Room members, if you remember last week we talked a lot about waiting for opportunities where the risk reward is heavily in our favor,...
If GER30 manages to bottom today, i see a lower top to 12184 with a higher low of ~11600, forming a daily pennant, which in turn will result in another rally.