The last few weeks went like a clockwork. Basically every target zone got hit, every support held and the price action matched perfectly into the overall image of my Analysis. Now, since we have reached an ATH (all-time-high) at ~12.222 the price consolidated - which again - fit perfectly into my Elliot Wave count, as a small correction was overdue. On this note...
A bearish Gartley pattern on the 240m timeframe with a potential bearish Bat pattern inside of it on the hourly. If you haven't signed up for my FREE 1 Week Trading Workshop then check out the link on my profile page & secure your seat
Dax at 12k2 touched trendline from 2009, see pic below. In this chart ew count has been applied - if currently the red W4 is developing, then: 11850 needs to go and most important bold green ew 2-4 trendline then correction targets would be retracement of w5 of red W3: 11600-11215-11k or W3 retracement at 11075. In daily picture, there is trendline running...
This beast is sitting right at trendlines crossover, 11600/11700 zone and ema125 are crucial, dax needs to hold them to stay above if going higher, slow cci still positive. If the zone goes, then there is room to 11k/10800 with no harm to current uptrend, just a little breather, but can this thing now correct at all? Longterm superstrong, looks still not finished at 12k2.
If dax gets above 11850 it could start a new Wave. If it can't break that level there should be a bigger retracement.
Correction back to 11.000 as wave 4 Eur will get a relief rally. Money will flow to the US for it's last wave up to 2138. RSI a "little" stretched And ECB will take care of the dax rally over the summer. Fib on chart are important but will explain them later... Top will be around 12.700ish Sorry flash crash was in 2011 Want to post this but I will probably ad...
Breakout or not in eurusd is still not clear but the way dax is moving (short euro and long dax) is coming to an end with dax now at upper trendline resistance of 11900. Too many shorts in the system already and any position being closed out or any news -ve for euro will lead to reversal in eurusd as well as in dax. Go long in EURUSD and short DAX
Trend is still strong bullish , looking at Ichimoku and Alligator. Setup is clear as well as the big picture. Red wave 4 is definitely complete, so we are working on a completion of red5-blue3-red3. Target zone can be defined between 11.560 and 11.575. Note: I bought Ger30 in all of my accounts.
If a line is broken, it should reach the next level, look at this chart ! At this time, the only way to play is short, cause we are just under the resistance, so the stop level is very close and the risk reward is high ! However, the trend is still bullish, so you should stay on the buy side ...
Please refer to comments on my other post regarding the Dax. This 2 hr chart will hopefully provide far more perspective. Sorry new to this and I published the monthly chart first without finishing it, instead if the 2 hr. Anyways here is the 2 hr chart
Thanks to a certain client, I now keep an eye on the GER30 and as I looked at it today I noticed a pretty nice setup for those looking to get long. Looking left we've just put in a wedge pattern that was followed by a breakout. Currently we're in consolidation that retraces right back down to the highs of that former pattern. Resistance turning to support. What...
Simple linear chart, resistance trendline matched by recent top at weekly R1. Pullback to green support line around 10400, not below pink longterm trendline running from 1999, then up again, target derived from ew fibs around 11335. Anything below lower green support could mean breach of current bulltrend.
Hi Traders, As I posted just few minutes ago, I expect and hope to see one more high coming into play before we see him going lower. Looking this daily chart, we can see that we are in a very strong resistance zone, BUT I think that we can make a new high, scare a lot of traders and then reverse lower. This is what I expect and I will trade this (if he makes new...
One of my current clients is a big trader of the German DAX so i find myself looking at this index on almost a daily basis. The more I look at it, the more I enjoy breaking it down as it seems to be a pretty technical friendly chart. When taking a look at it today in my Live Trading Room we noticed a few things. The obvious structure level looking left, the...
The Larger Picture where a quick downfall for the index look a probability to me. What should I look for to confirm it? How high do you think it may go before the fall?
The Momentum Divergence is already in play, will have to wait n see which side wins the "battle" this week. The picture of "War" in another chart to follow.