Dax is back to 9100 support level.
fourth time in 2014 DAX is around 9100 level.
DAX is bouncing in trading channel 9600 and 9100
break to 8900 and lower bring DAX in negative perspective next month's
if 9100 or 8900 hold we go back to 9800 zone again
Friends,
INTERMEDIATE GEOMETRY COMPLETES:
As we looked at different perspectives during the coiling geometry, which we proposed to belong to the Elliott Wave's Running Flat breed, we looked into the internal geometry of this Flat to determine a maximal level at which price would likely reverse and complete that time-consuming Flat pattern.
Turns out that...
After breaking the 2011 trendline in august, DAX is back at the 2011 trendline.
DAX is back in the 9800 zone.
Combination from the old trendline 2011 and 9800 zone and fibolevel is a strong resistance zone.
Before breaking this zone DAX can go back to 9600 before jumping to 9900 zone.
Good opportunity to go long after breaking the nick line, target one is the measurement of last shoulder to the nick line and target 2 is the normal objective of H&S pattern.
Since February, GER30 has tried to cross the demand zone, however after multiple attempts, we haven't seen a major correction, just a series of up's and downs.
This time, it has aggressively went down almost touching the demand zone but it is now approaching another important support line which has been in a bullish tendency since November 2013.
This week DAX is bouncing between 9800 zone and 9600 zone.
9600 is a strong resistance level this year. So we have to break this 9600 zone and shortterm trendline before DAX get further down. If DAX breakout at the upside we can go up to level 9900.
I am looking forward or DAX make a SHS pattern.
So short under 9600 and long when breakout at 9800
Please give your thoughts on which way you feel it may go
I feel it it could go to 0.618(9816) and then drop
but also it could go to 1.618(9573)
what you think?
Today Dax is down to it's first support zone 9880. Last 4 weeks Dax is consolidating in a 155 points zone.
For the 5th time we get in the 9880 zone. From here there are 2 options. Support maintain and DAX go futher upside again (10050 top). Other option is a break from the short trendline and 9880 supportline. This brings DAX to next support level 9800. There is...
Well, the normal adage of a normal market trade says " sell in May come back in September." For those who are short since May it may have been a catastrophe. Having said that, The market is facing a normal and regular correction. This correction may last until 9400 or 9200. Bellow that level, it may very much slip bellow 8950.
Furthermore, the money is still...
