Going short the next days @DAXNot a fan of long term forecasts but that could be a possible scenario.
Good luck!
GER30-DAX
Bearish DivergenceBearish Divergence on H1 -
RSI @ Overbought in H1/H4
Downtrendline Resistance right in front
Trying to short with small stop (10305)
Target EMA50 (10159)
Another Story: Bears Resting. We have seen a Strong Bear move with 4 of 5 days as bearish.
However the previous swing low hasn't been breached yet.
Bears will make second attempt to do so, at favorable levels.
Current bulls, unless they get reinforcements will likely give way to next swing low.
So,
IF Bulls gets re-reinforcements a double top or retest of consolidation zone.
IF More Bears join the party, looking for break of previous lows.
More,likely a consolidation phase coming up.
Exciting Day(s) Ahead !!! - Price has been trading in the range. just below 1000 mark for few days.
Previous 3 attempts have been rejected categorically. (2spikes)
Bears have not yet made a lower low. ( HH, HC) - Marked in blue.
With Month End approaching and number of News lined up, the we may see a clearer picture soon.
IF price breaks and closes above 10000 mark, it will look to touch 10400 level.
IF price fails to make a bullish high, it could continue on with the trading range play for longer.
Will keep an eye for setups in lower time-frame on this one.
DAX Two Possible Sell SetupsDAX is in a corrective structure moving up and has reached the 0.5 fib level of a major impulsive move. Price has tested a couple of time this level and looks like is dropping at the moment. Meanwhile looking in MACD we see a divergence which tells us that this up move is losing steam.
Keep a closer eye for price to break to the down this structure, wait for a smaller correction or any other sell signal (depending your strategy) and go short. Another scenario would be price to bounce from the lower trenline make another wave up, test the 0.618 fib level and start its sell off.
GER30If dax breaks the trend line (9500) suggest a sell all the way down to 9000 and below, however more likely scenario it bouncing up the trend line to 10,000+
Reversal ahead ?Tomorrow there is the Chance of a reversal if Dax stays above 9300.
First of all our Waves ended with counts Correction was way above the average for it.
So There is a good chance that DAX turns at his target 9425 or the fibs retracement around 9380.
Either way playing the long reversal with a tight stop might turn out quite profitable.
If 9300 falls the battle continues on a Level deeper around 8825
Possible SHS pattern before 2000 pips down in DAXWatch out how this possible SHS formation plays out.
I'm looking for a short opportunity.
If it fails, I'll be looking for second opportunity i level 10.400-10.000 (with possible spike to around 10.600)
Let's see how it plays out.
LONG on DAX GER30easy money trading the beast..
looking for the catalyst today ( the interest rates ) :)
DAX - ABC movement towards weekly support.There's a bearish sentiment that could bring prices back to the weekly support for a retest.
Happy 2016!
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Can this be true? Almost perfect ABCD pattern in GER30!RSI could go still up, MACD bullish, OBV hasn't turned
Maybe bullish run isn't over yet? Hard to believe this but anything can happen.
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