Mr. Dax – Shorty escaped?
Hello everyone,
the Dax showed us against his intended script: the last uptrend was a wave 4 which we had profitably traded down. The question is: is the correction pattern over, or is there any downforce left?
There are good chances for a turning point, no question, but this I would see not before pushing through 11.009 (minimal requirement), and - with more safety - after climbing above 11.689.
I prefer the green scenario, which you can see in the chart above. For me the corrective pattern down looks not completed yet, so I guess the Dax will go down in the region between 10.300 and 9.800 for a final sell-off to complete wave [4] in my blue trading box. From there we will see a turn up with several thousand points maybe.
A deeper selling down to the level 9.200/9.000 is absolutely possible, but I think it is not very likely at all – at least for the moment.
Please do not hesitate to contact me, if you have any other ideas or questions.
Take care,
tgo
the Dax showed us against his intended script: the last uptrend was a wave 4 which we had profitably traded down. The question is: is the correction pattern over, or is there any downforce left?
There are good chances for a turning point, no question, but this I would see not before pushing through 11.009 (minimal requirement), and - with more safety - after climbing above 11.689.
I prefer the green scenario, which you can see in the chart above. For me the corrective pattern down looks not completed yet, so I guess the Dax will go down in the region between 10.300 and 9.800 for a final sell-off to complete wave [4] in my blue trading box. From there we will see a turn up with several thousand points maybe.
A deeper selling down to the level 9.200/9.000 is absolutely possible, but I think it is not very likely at all – at least for the moment.
Please do not hesitate to contact me, if you have any other ideas or questions.
Take care,
tgo
HK-Capital-Management
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.