Level to watch: 1.195$
Updated
After triggering the bearish wedge and reaching the min correction fibo, illustrated in my main view:
we can see that something like a bottom is formed!? We could overcome the shortterm downtrend.
If we have a look at the last two Lows we can see that the lows are ascending - that could be a first bullish Signal.
Trading below These lows should initiate the next downwave with TP1: 1180/TP2:1167
If we could establish above the Niveau at 1195 the likelihood is good for a countermove upt to 1.218/1.221
we can see that something like a bottom is formed!? We could overcome the shortterm downtrend.
If we have a look at the last two Lows we can see that the lows are ascending - that could be a first bullish Signal.
Trading below These lows should initiate the next downwave with TP1: 1180/TP2:1167
If we could establish above the Niveau at 1195 the likelihood is good for a countermove upt to 1.218/1.221
Trade closed: target reached
YES YES YES... it was a bullish Signal! Note
rsi is overbought now..if xaus could establish itself above 1218 further upwaves are thinkable Trading below 1218 could initiate a shortterm "selloff"
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Check!!! Note
when we could defend this resisitance than support level at 1.245 the next buying wave could be exspected tp1 1265/ tp2 1281
trading below 1240 is dangerous now
Note
RSI is still overbought... trading below 1240 could initiate a consolidating downwave Note
Note
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