DAX-30I think the wave of the decline that has recently started will be the last one before a sizable correction for DAX
Germany30
GER30 - downside correction starting, or be more careful.Notes on chart. Just to keep in mind, even if some bullish bounces happen along the way.
DAX' FUTURE WITHIN 27,000 MINUTESDAX On the rise and only EU crisis can stop Mr. DAX - other than that? DAX will soar so much more that the investors wont believe what they see:)
What will be next?we might see the ear formation again.
Maybe Price is hitting his lower ear.
Beware if Yellen and Draghi have some more sweets than our dog pattern might jump and we hit the upper band of his ear.
Short deals for GER30GER30 closed below uptrend line. After that we could start searching for the entry price. Bollinger Band expension gave a good signal for opening short trades. When price closed out of Bollinger Bands, the low of the day was the place where open orders should be placed. Stop Level above MA20 and Profit Level between 8700 and 8900. MACD (H) and DMI confirm short trades.
New idea about dax with EWI got a feeling that the earlier upwards doesn't match any correction wave system, so this could be a really long A wave and we would be heading for B. What do you think?
German Dax ABCD within Trend | NICE RRNice harmonical move on the german dax. The potential buying zone lines up at 9500 even handle. Watch on lower timeframes for entries. Stops should be below recent OR (below 9400's).
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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.
DAX30/GER30 forcastlooks like ger30 has very strong buy power. I'm not sure ger30 movement right now . I have done forecast on ger30 . Hope ger30 will goes like my way
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+
An Attempt to Decipher Ger30I do not know what will eventually happen,But until then, staying the OODA Loop I've tried to take pulse of the chart.
The bullish intentions have been made clear. Lets see which setups plays out eventually.
Would have been stronger if this close was above the large red candle on left. (off by some 40pips)
Hence this keeps the options of deep retrace very likely.
Especially for next leg up to Bollinger mid.(34 MA) which may meet price at the 10000 by then.
This down move likely to be to
- Retest of trendline break
- Retest of MA's 10
- 30-50% retrace of last 3 bulls weeks
- Test yellow resistance turned support zone.
One of the few Possibilities for coming years - GER30I just realized i had posted this chart as private 2days ago. Wish they have a convert function. :) Hey ho.. here is the progress since then. Still valid.
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We don't fully know which of the fundamentals news would be used to drive this up and then down.
However, IF there happens to be such news events, this could be a set of potential price action movement in near future.
This charts is just for reference and will be interesting to see how the market actually moves in coming months and years.
Price action behavior at 10800-11000 will eventually indicate if this full set of move will occur in this fashion.
Though a possibility,At the moment, it would be too early to project the third push with a degree of certainty.
Update status
DAX longSL 8600
since it is aggressive counter trend, I will quickly take partial profit after 1R is reached and tighten SL to BE
A GENERATIONAL TOP IN THE MAKING In my last chart around 2 years ago entitled "SP500 BEARISH OUTLOOK - CLOSE TO FORMING GENERATIONAL TOP" (see link below), I suggested that a possible top could occur around 2000 - 2030 area which I believe is still within acceptable range for such long term analysis.
It appears to me that the likely topping pattern we are witnessing could be part of a very significant top formation, to qualify as "generational top". Based on the my interpretation of Elliottwave Principle, the cycle that began back in 1929, probably formed a major top of wave 3 in 2000, and all the intervening price action since 2000 till August 2011 low could be contracting triangle wave 4.
If this is correct, then we might have just seen wave 5 top on 19th May 2015 high. The choppy price action could just be an early development of major bearish cycle that could last several years with possible downside target retesting the 2009 low. Should this scenario play out then it could be very devastating and at the sometime offer us opportunities to benefit, if provided we are fully prepared to take advantage.
Summary:
1. Potential Rising wedge (ending diagonal) close to breaking down.
2. Have several Fib confluence,
3. Momentum divergence at several degrees.
4. May 2015 top lines up with time symmetry (see chart below).
5. Several sectors started topping from mid 2014 with the main Index grinding higher due to strength in ever reducing number of strong stock making up the S&P500
Conclusion:
If you wish to learn why I have come this conclusion then and what can assist you in getting fully prepared please register for a free webinar I am hosting on Saturday at the link - www.danv-charting.com
Warning: This is my interpretation of price action using TA approach that I consider helps me the most but could be completely wrong. Therefore as always, do your own analysis for your trade requirement and ignore my views.
For those who appreciates my analysis, select to follow me and the chart for notification of future updates. Indicate you like my analysis by thumbs up, comments and sharing it with others. If you have an alternative idea then please be constructive and share for all to learn from.
Thank you for taking the time to read my analysis.
DanV
danv-charting.com
