Oh Oh, after building a Double Top @ 9.000 a consolidation started.
This consolidation caused a trendbreak - the momentum turned bearish.
Now i see a bearish H&S. If the index would trade below the neckline @ ~ 7.900, a further drop should be expected.
Only Prices above the potential right shoulder will brughten the Chart.
Longs have a really nice Chance-risk-Ratio at the actual Level - as always wehenn we are trading near a Support Level :-)
Best Regards
Mary
Former view:
This consolidation caused a trendbreak - the momentum turned bearish.
Now i see a bearish H&S. If the index would trade below the neckline @ ~ 7.900, a further drop should be expected.
Only Prices above the potential right shoulder will brughten the Chart.
Longs have a really nice Chance-risk-Ratio at the actual Level - as always wehenn we are trading near a Support Level :-)
Best Regards
Mary
Former view:
Note
Counter (DB)Move reached the min. correction level fibo 38,2 Note
Note
Trading above the right shoulder would destroy the bearish pattern - here i would exspect a new upwave like illustrated
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.