symmetrical ABCD triangle. comes into confluence with 11000 level. AB=CD to the pip. also aligned with 161.8 fib extension. with that said D=(B+A)/C downside target 9488
Please refer to comments on my other post regarding the Dax. This 2 hr chart will hopefully provide far more perspective. Sorry new to this and I published the monthly chart first without finishing it, instead if the 2 hr. Anyways here is the 2 hr chart
As you can see in the chart, we have two trend lines which acted as support in the past and now create a resistance zone. This comes with the completion of a weekly AB=CD pattern. Is it the end of the QE effect? Pullback to 10,000?
Actually I'm waiting for a first negative signal. The bars still show an uptrend but we are testing a trend line from 2011-2014-now (7500-9800-10600). On the down side there is a second trend line also from 2011-2014 (5500-8500). With these volatile markets caused by a high uncertainty (economic performance, Oil, Russia/Ukraine, QE, EUR/USD, Greece) it's likely...
Hi Traders, This is one of the markets that I trade the most. By looking this short term we can see a very good reaction from few minutes ago at 9939 (29/12/14 high). Now I expect him to go to 10080 for a FINAL high (also higher line of pitch-fork). I will short big at that level for a medium term trade. Mixing technical and fundamental (Germany not in a good...
Similar to Nikkei, we have a potential bullish Bat pattern on the German Index as well. If you like our analysis, Subscribe to our mailing list for future updates or events: eepurl.com Follow us on Facebook: www.facebook.com
Sideways, then a breakdown to 0.5 fib level or even lower on the 1.272 time fib of the preceding up move (between 0 and 1) Stop above recent high.
Similar to SPX, the DAX is on a verge of breaking the daily TL for more downside. This bullish bat is just a speculation where the potential support may be.
Double top at resistance, now a potential AB=CD pattern playing out following the rejection at the 78.6% fib level. A counter trend line break will provide confirmation for entry with the target being the -0.27 fib extension at 9000. Fluent with structure and a 61.8 retracement fib level from the previous up swing.
See the chart for engulfing candle day trade strategy. Risk is 1 to 1 so it requires more winning trades then losing. A manual back test of the strategy looks impressive over the last couple of months.
Flag pattern has formed after significant resisatnce break. Go long on retest of the resistance level. SL below the weekly pivot point around 9990 Initial Target: Recent high around 10090 (take some profit, move SL) Another target - measured move from the flag pattern
1. Obvious divergence present (momentum/price) 2. Sideways movement 3. missed daily and weekly pivots below the current level Go short on break of horizontal resistance at 9895 Target: 9690 (38.2 Fib retracement, half a way to the missed weekly pivot) SL: 10050 - above the recent high
Dax need to rest. Today DAX is at 9800 level and we can see a pullback until 9350-9400 area. I will enter long again near the 9300 gap. I DO NOT advice short positions, i prefer to wait.
i) The candle on 06/11/2014 made the high of this move. ii) The candle on 12/11/2014 closed below the low of the candle in (i). iii) This reverse candle formation appeared right at the bottom of the Kumo Cloud, which typically acts as a Resistance area. iv) A re test of the previous low is expected at 8406. v) the dashed pink lines are the immediate support...
If Dax shows a sign of reversal at the PRZ, go short, targeting 9080, initially and lower. Trading above 9400 will increase the potential of Dax going higher. At the moment I am more short biased.
Just days before Germany's much anticipated third quarter gross domestic product (GDP) data is released, business leaders and policy makers warn that euro zone's largest economy has lost its competitiveness and is on the brink of recession. German Stock Index DAX is grinding high for the last 3-4 weeks after a sharp down move. It is building nice consolidation...
If the price doesn't succeed to break the cloud, we might see a retest of 8920 level (at least) and 8400, 8110, subsequently. i) Rejection from daily Kumo Cloud ii) 9400 was a strong Resistance