Deutschebank
DB in $. Short near the end. EW at its best.As a reminder, please look at the old chart idea down at the links. Price action and elliottwave at its best.
The old longer short target was 16 $. But from the waves I cannot see an end to it. I wait for a long signal, a wave is finished formation, to try to catch the next big move long.
How to trade? Short positions stops bring closer, long positions not yet, waiting for the first impulse wave up then take the second impulse wave as an entry.
Be aware: The top formation two years ago was more clear to me, and like in WTI, the bottom will come fast and swift. V Rulez. But to try to front run the bottom may cause unnecessary pain in the depot. Just wait for it.
The Deutsche Bank (NYSE:DB) Daily (03.07.2014) Tech Analysis The Deutsche Bank AG (NYSE:DB) Daily Diagram Technical Analysis training shows the following:
The DB share has made a long term bearish movement with the resistance of red trend lines. These resistance lines were under the KUMO, which means that the DB was bearish in long term. The weekly diagram shows an oversold level.
So the first think in mind (as you can see in diagram) is that $34.75 (2.618 of fib retracement is a local bottom) and may be a reaction from here (a little aggressive). So it is a strong long term support. MACD is forcing its bullishness and RSI too. The volume is the usual.
We have no special candlestick pattern. The share is under the KUMO and the Kijun Sen (blue line) too.
There is no special pattern. The fib from $54.33 to $46.85 shows a 2.618 bottom at $34.75.
So I think that the share will return towards to Tenkan Sen (36.63 first target) and Kijun Sen $38 second target).
For farther projection look at KUMO SPAN A (green line of KUMO cloud).
