The TU Daily chart shows what I believe to be an Cup With Handle, which if confirmed has 10300 as target
Today is European Central Bank meeting and i expected they will do nothing this time. Do not forget this weekend European Uniun can approve new sanctions to Russia. DAX still inside the descendant channel. React from the 8900 until 9600 (61,8% retrace) for me DAX in a new leg down until 8700 level. This is time to TRY kill longs. Short term - still in...
DAX still inside the descendant channel. React from the 8900 until 9600 (61,8% retrac) for me DAX in the 2nd leg down until 87xx level. This is time to TRY kill longs. Only a close above 9600 i change my view. Short term - still in correction Long term - bullish
The UT 30' chart shows what I believe to be an inverted Head & Shoulders, which if confirmed has 9640 as target
Actually European economy is not at its brightest situation. If it was the case, ECB President Draghi would claim that ECB was ready to launch a european QE. With th end of US QE3, the tappering, a possible increase of interest rate by US even though THIS WILL NOT OCCUR before 1Q15 at the earliest, a possible deflation in Europe, There is nothing yet to fuel the...
Indicators show the clear path. Yet there is nothing to fuel the market. ECB do not yet put into force its European QE and you need a ground for that. The ground may very be the retracement to 8113 or even 7518 before ECB decide to act. When acting, DAX would go far above 10000.
The Weekly chart shows what I believe to be a Head & Shoulders, which if confirmed has 7750 as target
A possible H & S on the DAX. The second shoulder, if it occurs, will give a good opportunity to sell the index. The sale price would be at the level of resistance of the falling wedge. I propose a sale at 9450. the first goal would be 9260 (Support of the rising wedge). On break of this support we will target the low point of the rising wedge 8900
Rising wedge is narrowing at significant round number 9300. It's time for correction price going back down to 9200 and maybe lower at 9150 (38.2% retracement of latest up move). This could happen next week but the process can start today.
Good opportunity to go long after breaking the nick line, target one is the measurement of last shoulder to the nick line and target 2 is the normal objective of H&S pattern.
Hi there, this is my first analysis here on tradingwiew so please don't judge me, yet! ;) * * * (German Stock Index DAX) Support around 8977 has been used three times before and every time MACD and StoS has confirm a bottom. Right now we can see a similar behavior as the last times, will it continue to rise even when the Index has fall through it's long term...
Though i have bearrish outlook on dax till 8713 (as posted earlier on fb ) this may be a short time buy till 9360 (last months lows ) www.facebook.com SEP is the last month of Q3, i remember posting a monthly chart here , i couldnt believe it would move more than 400 pips in 4 days so i dint take the trade. now i see a similiar structure in the quarterly chart...
After the plunging 500+ points DAX might recover a bit. Just triggered the bullish bat @9195. However, another possible bullish bat waiting below 9000, @8960. I certainly hope that DAX won't break below 9000.
I expect a recovery mode upswing here, conservative traders wait for more base building signs.
Another day and DAX still in correction, inside the descendant channel. We have another HL at 9700 , nothing change, lets see where DAX will go to make a new LL. I do NOT ADVICE open short positions at this level. Wait for the upside. Supports: 9480 (50% retrac) 9350 (61,8% retrac) Short term - still in correction Long term - bullish
DAX is at the inside the descendant channel making LL (Lower Lows) and HL (Higher Lows). At this moment DAX is in a journey to test the top of channel again. Lets see if break the pattern and a close above the last HL (at 9810) will be consider bullish. If reject the 9810 and make a new HL more downside will come.
Following the rules of Jason Stapleton's (@Jason_Stapleton) 2618 strategy there is nice opportunity to short DAX. Specially that it nicely fits to the idea published yesterday (see below).
The German index is continuing its correction process. For those who follow me closely, you may be able to remember the Double then Triple Top identified in my previous studies with the neckline and the pull back level. The pull back as well as the neckline are all very close to FIB retracement level. Therefore the estimated correction may continue towards 9765,...