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Channelbreak

DAX Channeling - Easter present?The DAX has been channeling in a 400 pip wide band for the past 2 months. To make matters interesting, the highest high ever of the DAX has already been approached, already bouncing back just 15 pips away from it! So the question arises: will the DAX break through the channel or not? If the DAX REMAINS in the channel (as I am hoping), then the following targets and stop-loss arise: Target 1 at Fibonacci Retracement Level 61.80%: 12,201.5 (+107.5 pips) Target 2 at Fibonacci Retracement Level 38.20%: 12,267.8 (+173.7 pips) Target 3 at Fibonacci Retracement Level 0.00%: 12,375.2 (+281.1 pips) Super Conservative Stop-Loss at Fibonacci Extension Level 138.20%: 11986.7 (-107.4 pips) Normal Stop-Loss: 11,230.0 (-64.1 pips) Super Conservative Risk-Reward Ratio of 1:2.6 at Target 3. Normal Risk-Reward Ratio of 1:4.4 at Target 3. I suspect there to be strong resistance at the highest high ever (12,390.75). I will enter a long trade if the DAX bounces off the lower channel boundary and rises nicely. If it continues channeling, I believe Target 1 will be met after maximum 5 full days, Target 2 after max. 9 full days and Target 3 after max. 12 full days after the bounce. What do you think? Further thoughts: I like how the first border-to-border move's Fibonacci extension level of 161.80% at the beginning of the channel matches almost perfectly with the second border-to-border move's 100% level. That same first border-to-border's move's 112.7% level matches the next top-border bounce perfectly .
TVC:DEU40Long
by cluttermelon
GILD hitting Major Support LineGilead Sciences is a deep value play, along the likes of a Joel Greenblatt "Magic Formula" stock. Around September I expressed a bullish interest in GILD given its fundamentals and its valuation. During that time, GILD traded at $73. Since I expressed a long interest, the stock has done nothing but decline. Looking back on my initial bullish opinion, I didn't take into consideration the charts, let alone even think about TA. The fundamental research was over, and due to the fundamentals I didn't really think to take a look at the charts. After all, it was my inner Buffett saying, "Hey, this is a great business, don't even worry about the price, since the company is so great, it doesn't matter. Heck, if it goes lower, buy more!" Well, after reflecting on this consensus I realized how foolish it was of me. If I would've taken the time to look at the charts, I would have realized that at $73, it didn't have much support on that level, with the most recent support level being at $66.51. So, instead of waiting for that support price to hit, I thought it would be a good idea to buy at $73. Not only did that bullish decision reflect in a loss of capital, but it resulted in dead money, money that could've been used in other capital allocations. Nevertheless, I like GILDs fundamentals so much I had to take a second look as the share price kept falling. Now, at $66.51, GILD is right at the support level from mid 2014. GILD is still in a bearish channel, but since the company is so solid on its balance sheet and has loads of cash, if the bearish channel is broken upward, I will look to get in around the $71 level. Will keep watching. All the best, RC
NASDAQ:GILDLong
by BrandonBeylo
EURAUD H&S invalidatedEURAUD 4hr. For the head and shoulder pattern to be valid I believe the down leg after head formation should've gone to the neckline at around 1.3890 (shown by ellipse with question mark). Instead the pair was halted at 200ma confluent with 50% retracement and created a higher low, invalidating the h&s in my opinion. The pair may now respect this ascending parallel channel shown with long target at 1.4500 confluent with upper channel and -27% fib extension.
Long
by Global_Markets_Analyst
VCIT - Longterm Upward channel breakdown Short from $84.83VCIT was one of our recent Short alert. It is running within a broad Upward channel, noticeable in weekly frame. Moneyflow was diverging & now in the negative side. We been waiting for the perfect entry point & now it seems ready to fall. We think it can decline down to $79 area. * Trade Criteria * Date first found- March 14, 2017 Pattern/Why- Longterm Upward channel breakdown Entry Target Criteria- Break of $84.83 Exit Target Criteria- $79.73 Stop Loss Criteria- $86.13 Please check back for Trade updates. (Note: Trade update is little delayed here.)
NASDAQ:VCITShort
by AcornWealthCorp