$DAX here is a Big Picture monthly chart. It is screaming "from failed moves come fast moves in the opposite direction" rule. We need to be aware that a move to the bottom of the channel is very possible in the weeks ahead. There is certainly ample MMT fundamental evidence to support such a move as we saw back in Feb of this year.
I believe his is a Psych! Move! Still lower lows and lower highs. All driven by the USD Which I believe is a PSYCH! move and it will ultimately move lower. Because the reason it moved higher was utter nonsense! Yellen said what she always said, NOTHING! They are looking to raise rates at some point this year. And they will. No schitt! No surprise to anyone!
Please note I am not a short term trader and I place no stops, I apply proper position size and build positions. I trade today's false sentiments when they arise and trade it for a profit in the future. I use Modern Monetary Theory for my analysis.
Please note I am not a short term trader and I place no stops, I apply proper position size and build positions. I trade today's false sentiments and trade it for a profit. I use Modern Monetary Theory for my analysis. Fundamentals BREXIT was a non event that did not effect the UK economy. A 20% decline in GBPUSD was and is unwarranted. The S&P, FITCH downgrade...
Follow up chart to BTCUSD shows they Puked it up BIG TIME!
Long $GBPUSD I project a 10% bounce from recent lows.