IBEX 35It should be topping just in this point reaching important resistance and tendence line (red lines), so, the most probably way is starting vth wave down. But if up acceleration occurs from this point I'll have to review the waves count
ESP35 trade ideas
IBEX bearish from the end this monthIBEX confirmed the head&shoulders with the break of the 2yr support at the beginning of the year. It's is inside of a downtrend line since july 2015 and it is arriving to a good point to open shorts. Since it tested 7900 points it start a ABC correction that meets with the 50% fibo. For the next months, i expect the 5th impulsive elliot wave.
RSI arriving to levels that in the past worked as tops.
Reasons why i see this idea:
Downtrend line
5 impulsive elliot wave
50% fibonacci correction
Pull-back
RSI near to tops
Head&Shoulders active
Gonzalo Melendi
IBEX35 | PERFECT PULLBACKWe have seen spain pulling back to 9230 resistance.
Care with new lows and try to catch a great entry at 7500.
Happy trading!
Spain could finally see a bounceIf we check how volume is increasing we can detect some panic around. We should spect some kind of hard bounce around this levels or 7500 levels.
Regards.
Wait for long signalDivergence has been corrected. It would be ideal open the position at the last minimum but I was waiting for the confirmation. That will be when the RSI touches the yellow dotted line. It should not break it and define the RSI trend.
The trade has a very tight stop because we are assuming the floor before it is consolidated, so is a risky spot to enter.
in the long run this would be the first wave of 5 (circle), first wave from a very small grade. Below the last minimun 7756 the analysis would be incorrect.
Ibex35 still very bearishSupport values at 7500 level from 2012-2013 are at the very long direction of the index.
The IBEX35 should go to 7500 before any serious "bull" approach
IBEX 35 IDEA [UPDATE]We have IBEX 35 doing the same movement as did at 2010 wich it's paired with a support and the 60% fib.
Regards
IBEX35 - Back to the future?Some beautiful symmetry on this index.
As the world has a mini melt down in 2016 I'll be looking around 7,000 level to find support and hopefully mirror the move from 2008 to take us up and hopefully beyond 12,000
Spanish Bull SharkBullish shark pattern at median line and the head & shoulders target area with bullish RSI divergence.
IBEX 35 ShortWell... After all this news, this index is so overbought and on critical levels of resistance, we should see this one going down sooner than later.
Regards
(J) Trade 7: Speculating on Trend Resumption #IBEXUpdate: Target Reached without entry Trade Cancelled.
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Trade 7: Pending Long IBEX35 @ 10,800
S.L @ 10590
T1 11,160
T2 11,585
For $29,798.94 Balance, Position size = 0.4 lot (0.2+0.2) .
Risk= 4(position size) x0.8(point value per 0.1 lot)x210(stop loss)=$672 ~ 2.2% of Balance.
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Reasoning
Long term trend is up
200 Days SMA forming support
Multiple hammer candles at 200-days Average
1.271 extension of recent bullish wave
Fundamental factor: Any minor progress on Greece will probably lead to a major rally, as economic conditions improved recently in the euro area and ECB continues to pump money through QE.
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Unemployment in Spain 23.2 percent. Market index up 100 percent.Spain could be facing the same outcome as Greece. But a much bigger economy.
