Forecast week commencing 12/12/2016
Updated
TP1 = 11284
TP2 = 11521
TP3 = 11861
My views are based on Fibonacci, supported by Line A & B. However, this prediction isn't going to be reached in a straight line and particularly the news just after midday on Friday about Italian Bank Monte dei Paschi may cause a lot of volatility during this coming week. The US Federal Reserve is widely expect ted to increase interest rates on Wednesday and the DAX will be affected by that as the Dow and S&P will be...
This is my idea and I urge you to follow your own plan.
Happy trading!
TP2 = 11521
TP3 = 11861
My views are based on Fibonacci, supported by Line A & B. However, this prediction isn't going to be reached in a straight line and particularly the news just after midday on Friday about Italian Bank Monte dei Paschi may cause a lot of volatility during this coming week. The US Federal Reserve is widely expect ted to increase interest rates on Wednesday and the DAX will be affected by that as the Dow and S&P will be...
This is my idea and I urge you to follow your own plan.
Happy trading!
Trade active
11307.6 reached overnight (23.6 pips over my TP1 level). Key support is 11146. Let's see whether it holds. If it doesn't, I expect 10050 to come around again.
Note
Following this morning's break up from the 11484 level, DAX is no nicely on its way towards 11700 which is the top of my green line....Trade active
No sign of a turnaround yet. I base this on:
1. Top of line A = 12,812.
2. Top of line B = 11,701
3. Bullish week candle for week ending last night.
4. RSI not yet overbought
5. MACD still wide open
I urge you however to trade your own plan and certainly not let losses run in the hope of a turnaround. Because you wishing it to turn won't make it so....
Note
So today reached 10695, six pips short of my prediction. I now expect to see some significant retracement but 12,800 area is still in sight.Trade active
Nearing the top at 11813...I shall short from there if price action tells me to....
Trade closed: target reached
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