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Can DAX Join A US Stocks "Mania Cycle" ?Good day traders! German Dax and S&P500 are in negative correction for the last few weeks; with US market trading at all-time high while DAX lost nearly 7% since June 20th high. Technically we see US markets entering into bullish mania phase with DJIA breaking above the upper trendline of an EW channel. We may see fifth wave rally to continue up to 24000-25000. Mania cycle is also confirmed by Charles Schwab reports that clients opened the highest number of brokerage accounts in the first half of 2017 since 2000 as highlighted in article by ZeroHedge. Keep in mind that from 2000 peak DJIA lost nearly 40% in two years and S&P500 fell nearly 50%. However, I don’t think that top is near yet, as EW model appears incomplete; it suggests more upside in coming months. So if we go back to DAX and US markets correlation, I think that Dax can see more upside and join the mania phase as well while DJIA is trading towards projected levels. In fact Dax came down in three waves to fill gap around 12000, which can prove out to be a good support area. Break above the upper channel resistance line can be an important evidence that European and US markets are going back into positive correlation. Higher DAX should also impact the EURUSD moves.
OANDA:DE30EUR
by ew-forecast
Gold - easy 4HR and 1D setup - huge P/L potential. The confluence of trend-lines is making the unit quite volatile in this coming week. The '13 0.49% trendline - retested in July 2017 - is the major hurdle, breaking this trendline would allow the unit room to grow up and fight the major 1300 resistance. The world has its fair share of problems, Brexit and terrorism in UK, Trump battles to implement policies amidst scandals, Europe faces migration unrest, political weakening, and also depend on the Brexit negotiations. North Korea keeps crossing the lines. South Africa gold mining (7th largest producer) is also facing governmental interference. This allows us calm traders to rise above the competition and make money amidst global madness. These problems are long-term problems so I expect the unit to rise both medium and long term (2 weeks and 1 month). There is an option to short immediately, however I prefer to buy the unit long. Short-option. If the 1250 resistance breaks, short until the 22nd June when the current trend reverses to the monthly upward Elliot wave pattern. At the current rate this will be on the 22nd June around value 1230, stay tuned for updates. Long-option Wait until the trend reverse around 22nd June, $1240 level and has a good bullish candle. I will update the chart if I am confident to open my trade. Target: 1270 SL: 1230 after entering bull trend. P/L ratio: 5+ Hope we're all excited for this week!
TVC:GOLDLong
by Wolf123
2
The high tideHello there, Since my predictions of last weekend turned out to be quite accurate, I am now there for you guys. I want you all to make the right decisions for the mutual benefit. See my first chart. My predictions for CLAM: - High tides (14-15 May) which will push people to the ice cream bar (more sales) - Not enough ice cream cones (17:00 ECT 14 May) - New cones in storage (19:00 ECT 14 May) - Sales good (20:00 ECT 14 May) - Boss goes on holidays and empties the vault (15 May 12:00 ECT 15 May) Good luck trading!
CShort
by TryStarTrading
The Looney being annoying! But a big short in sight! Hi All, The Looney is really being a Looney over the last couple as it is massively rallying despite massive MASSIVE divergencies. I have this count as follows. Wave 1: Standard impulse Wave 2: ZZ retraced 61.8% Wave 3: Extended to 2.618% Wave 4: Flat retraced 23.6% wave 5: Looney high marked with the blue line. As you can see, there are 5 key high's that kept pushing this pair higher despite being over bought as this pair is at the top so a short is predicted. With keeping an eye on this as it will make some massive moves to the downside. Happy Trading
Short
by donaldsaw
Long on GOLD if...My favorite trading pattern is to buy breakouts or breakdowns after a base (high base/low base). Gold is in that ideal pattern that I look for, nothing fancy here. Price has risen (like almost everything else) since the US election in November. Unlike equities though, volume hasn't deteriorated as we move higher, though it hasn't risen much either. We are looking to take long positions after a move above the recent swing high with buy stops above 1244.71 area and buys on the pullback after. There should be enough volume around this inflection point to fill all initial orders we need on this first entry of our potentially bigger position. This is the initial entry we are looking to take in gold and if it continues we will be looking to add to our positions over time. The 1245 area is the confirmation to start buying, until then no entries have been or will be made.
TVC:GOLDLong
by ChrisD_Macro
1
SP500 Swing High - Short opportunitySimple short trade setup. Seeing resistance at the 2272 level, let's see if it works again. Look for an hourly bar to close below the green line - breaking the inside bar setup - and enter short. Use lower timeframes if you prefer to refine your entry. Target lower red line initially, but beyond that look for new lows. There's a good case that a reversal is due on longer timeframes too, so could turn into a great entry if well managed.
FX:SPX500Short
by BobVanders
2
Deep ITM Put on AMZNIt may be too late to jump in on this one, as the risk is about $20/share in option value if it turns against us.However, if you can stomach that kind of risk and have the capital, a .75 Delta ITM Put with 2-3 months of time value could win big. Today's slight rebound allows for an equivalent entry to the closing price from 11/10/2016. Trail your stop to the Red line. Oscillator divergence supports the end of the long uptrend from earlier this month as well as an awful earnings report with supporting negative sentiment at this time (that doesn't mean it can't change on a dime). AMZN is a stock I personally avoid due to the psychology of it being an investors' "Sweethart". My personal opinion is it's one of the biggest bubbles of all time waiting to burst. Now could be the start...
NASDAQ:AMZNShort
by EdgeAnalytics