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Germany30

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.
FX:GER30
by Neel_K
1
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. ----- 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
FX:GER30
by Neel_K
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
AMEX:SPYShort
by DanV
15
DAX - impulsive decline, picture looks increasingly bearishIt's been a while since I updated the long term count. My intermediate bearish view was confirmed in the mean time with DAX putting in a spike above the previously indicated magenta TL from the ATH, however quickly losing momentum and failing also to keep above the 200d MA. The decline from ATH was very choppy, with waves which were difficult to count, so there is a possibility that this big wave is all just a corrective wave 4 in the form of a double 3 (see the blue count - A-B-C, then the red A-B-C up, and now could be just another bigger A-B-C down). The other option is the more bearish one in which we have a nested wave down (a series of 1-2 waves, with the current wave being either a 3 or yet another serie of 1-2). However, regardless of the bigger term picture, what is more worrying for longs is the fact that the decline off the 30th of November lower high developed into 5 waves and took out the September low, therefore cancelling the more bullish counts which were based on the red C wave being a 5 waver and actually not a C wave but a 1 or a wave part of a bullish move. This means that the next bounce (which could be quite big) will most likely be a corrective wave only, so an A-B-C, which would be a nice short opp, since the following decline will take out the lows at which we will bottom these days (or maybe weeks). On the more immediate term, it's difficult to say where we will bottom. We have already 5 waves in place, but the 5th could always extend. In any case I would use the next bounce as a short opp, rather than try to buy it. What is most interesting is that the LT projection from mcm, nailed a very important intermediate top - the high of the red 2 from Dec 30th. mcm-ct.com For questions about the analysis feel free to visit the site or contact me via email at alex@mcm-ct.com. GL to your trades!
FX:GER30Short
by alx13
Short GER30 IMMEDIATELYGER30 is in an extremely bearish trend. After a classic Head and Shoulders pattern formed, prices pushed down and broke the H&S neckline right away. On 1 Feb, an expected pullback was completed and a very usual and huge amount of short orders were placed at 9837 after 15 mins of futures market opens, therefore I warned the traders to be cautious. Option 1: Price go straight to 8400. Option 2: Now -> 9300-9400 -> 9800-9900 -> 8400. All "targets" for 10000+ or 10122 or 10400 in this correction can be treated as jokes. Jimmy, the full time trader, Candle Sticks specialist, Elliott Wave Counts specialist.
FX:GER30Short
by jimmy_hongkong
DAX Daily - BearishThe DAX30 index is moving in a descending wedge, which is a bearish formation. We can see that the market respects the formation, in which an overshoot of the upper trendline resulteted in an overshoot in the ABCD move (Which then hit the support line). We have a major ABCD move going in bearish direction down to 8350 and combined with the formation, it would be fair to guess we should be going down. We therefore have 3. scenarios. 1) We rally up to the 10400 area, before sellers slams the price down through 9300 and all the way to 8350. 2) Buyers rally the market up over the upper trendline, where a likely pullback will occur shortly afterwards, which will, it held, result in a bullish market. 3) We bounce some more inside the formation before 1 or 2 happens.
INDEX:DEU40Short
by Mikkelfo