Looking at the tops of 2000, and 2007, it is interesting to see where we are 06. Nov 2014 in price and time related to these two former tops. Calculating the time from the Sept. 2000 to the October 2007 top, and then extend the 85 bars from 2007 to November 2014. Markets can be due for longer correction. Adding the pitchfork shows the index streched on price....
1. Divergence (red lines) 2. Missed pivot (around 9070) 3. Sideways move, 9240 prroved to be support which was broken an retested. Go short at market targeting missed daily pivot and stops above the recent highs at 9360.
With the close of 9210 gap more upside is in the table, my target is around 9550 - 9600 for now. If anyone want to get / add longs try to get long in pullbacks. Only a close below 9114 gap will change my view.
DAX has corrected 18% down and it is challenging to see it going lower but I still think this is what is going to happen: 1) Normal correction on the DAX are 10/14% within the lower degree correction. 2) Therefore it is not abnormal to see a 25% correction in total when SP500 has to correct 18%. 3) I am awaiting a correction similar to the one we had in...
Dax recover maximum at 9335, if rejection happen at 0.14 fibonacci this index will trap inside channel down and down to 7812. Bearish target at 7500
DAX is in the process of a short term relief rally to upside. The levels of resistance are defined on the weekly chart. Bullish divergence has been seen on the daily RSI. Looking for the RSI on 90 minute to test the 45-period Moving average to go long.
50% back from 8855 to low is playing as resistence for the second time. I will start to buy again if we will broke above this level
I open a LONG position near 8400 with a stop loss 8250. Megaphone formation is on the way. Another insight is with the end of QE3 the correction is already near the last levels of QE1 (minus 17%) and QE2 (minus 22%).
DAX is now for second day under the very important 8900 support zone area. If DAX in the next day not return to 8900 zone , we can confirm the bearish outlook. Summarized : bear: DAX break his long trendline 2011 DAX starting making lower lows The very strong 8900 supportzone turning in heavy resistance zone. negative for bear : oversold RSI If we have a false...
I try to get LONG at 8730 but i sold my position i will not enter short this time. I prefer to wait near the orange line, i see a GAP in the week chart.
Today is the day to get a LONG position on DAX. My 1st target is at 9890. TRADE CLOSE 14th October. See my new chart.
Time to buy this dip and get long 1st target 9890. In next posts i will update with new targets. Friday i close my short position and lock profits. Monday 13th is Columbus Day and US markets holiday. Monday i will get a LONG position.
Waiting to open a long position when the 100% extension will be reached at 8770/8750 area. SL at 8450 and first target at 9030 area in order to create a risk free position. Final target is new highs at 10500 area.
buying here with stops below the lows of the last test of this support.
I will buy the dip but only when the dip is over. Be patient. QE3 ends in October and you know the behavior of the markets when QE1 and QE2 ended? No? QE1 dive 17% and QE2 dive 22%. So my target around 8750 level make sense, for now.