DAX - GER30 prep. to rise?
Updated
The "Big-Boy fork" catches the important swings.
As we can see, price behaved textbook like where the breakouts and pullbacks occurred.
Even the sine-wave swing- pullback to the U-MLH is just perfect.
Price climbed up to where it is going over 80%, to the centerline (white fork).
On its way up, it found support at the centerline of the shiffed-fork twice (slanted blue fork).
After reaching its target at the centerline (white fork), price pulled back as expected, never really breaching its centerline resistance from the white forks centerline.
And here we are - at the centerline of the shiffed-fork, finding support again, and backed by the natural support from the previous highs.
My view:
1. Price has potential to go north again, because of all the supportive facts. (centerline, natural support, swings...).
2. Price has potential to go down to the Big-Boy's Warning-Line (WL1), because it never pulled back to it.
Choose your own move or just stay on the sidelines until something interesting show up.
P!
As we can see, price behaved textbook like where the breakouts and pullbacks occurred.
Even the sine-wave swing- pullback to the U-MLH is just perfect.
Price climbed up to where it is going over 80%, to the centerline (white fork).
On its way up, it found support at the centerline of the shiffed-fork twice (slanted blue fork).
After reaching its target at the centerline (white fork), price pulled back as expected, never really breaching its centerline resistance from the white forks centerline.
And here we are - at the centerline of the shiffed-fork, finding support again, and backed by the natural support from the previous highs.
My view:
1. Price has potential to go north again, because of all the supportive facts. (centerline, natural support, swings...).
2. Price has potential to go down to the Big-Boy's Warning-Line (WL1), because it never pulled back to it.
Choose your own move or just stay on the sidelines until something interesting show up.
P!
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So, this could be the tell.A nice high close would benefit the long idea.
Then waiting for the pullback to enter with stop below structure.
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Here we have a screem to the upside.If i can grab a pullback, i'l take it.
Hunt mode.
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Soooo...anybody took it? - I like to play the Options RiskReversal.P!
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Grinding up...letting it do it's thing...Note
Good example how one has to be patient to make decent profits.My Goal is at least the U-MLH (blue) or the Centerline of the white fork.
Note
Gaining momentum...Note
Down to the L-MLH, the air is thin again.Note
The L-MLH is broken and the open was outside of the Fork.The blue CL. is now a high potential support for the market, because the "mean reversion" is fulfilled.
After such a hard break of a Forks line, we can expect a pullback to it. Some concept as with the break of a support or resistance - no magic, just method.
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