Using simple trend lines it's reached the top and now it's time to retrace at the very least and go further perhaps. Up until Draugi speaks in December that is.
$SPX managed to close the trading week above the 1950 support zone, having its best week since July. I get a lot of questions asking whether the latest S&P bullish move is a correction wave (to its August declines) or whether August's bearish move was the correction that the market was waiting for and we are heading to another bullish wave that will conquer a...
Due to the insecure overall political situation in Europe, plunging chinese stocks and industrial metals, the testing of the upper channel edge and a relatively oversold market , we may see another breakdown at least to previous structure level of at least 10700. Another support zone at around 10600 marked with the thin green line may also indicate a potential...
Trading Setups: GER30 (DAX) Pin Bar Buy Signal The GER30 (DAX) formed a bullish pin bar buy signal yesterday after moving briefly below 10970 key support level. In addition we can see that this bullish pin bar almost formed at the bottom line of a channel. We could see price move higher from this pin bar in the coming days. Yesterday price retraced 50% which...
A potential cup and handle pattern has almost formed on the hourly chart! A breakout over the resistance from the Cup is a signal to go long.
The master trend is still up. Potential long trade if price breaks and closes above the counter trend line.
If GER30 manages to bottom today, i see a lower top to 12184 with a higher low of ~11600, forming a daily pennant, which in turn will result in another rally.
DAX history lesson: Only 3 times with 2 closing candles OUTSIDE the bollinger band. Firstly in 2001 after tech bubble. Secondly before financial crash 2007....Thirdly in late 2008 during crash. TODAY we're looking at allready 2 candles closing ABOVE he upper bollinger band, and a third forming with only 6 trading days left of the montly candle. Bollinger top...
Hi Traders, I just closed all my long term longs on $GER30 as I think we are in a great place to reverse or correct for a long time. As we can see on the graphs, waves with equal legs and we just completed 5 waves up. Also, RSI at trend line resistance. If I see anything bearish on 4hr, I might try to short in few days. Thanks! Thiago...
See the chart for engulfing candle day trade strategy. Risk is 1 to 1 so it requires more winning trades then losing. A manual back test of the strategy looks impressive over the last couple of months.
i) The candle on 06/11/2014 made the high of this move. ii) The candle on 12/11/2014 closed below the low of the candle in (i). iii) This reverse candle formation appeared right at the bottom of the Kumo Cloud, which typically acts as a Resistance area. iv) A re test of the previous low is expected at 8406. v) the dashed pink lines are the immediate support...
DAX is now for second day under the very important 8900 support zone area. If DAX in the next day not return to 8900 zone , we can confirm the bearish outlook. Summarized : bear: DAX break his long trendline 2011 DAX starting making lower lows The very strong 8900 supportzone turning in heavy resistance zone. negative for bear : oversold RSI If we have a false...
Waiting to open a long position when the 100% extension will be reached at 8770/8750 area. SL at 8450 and first target at 9030 area in order to create a risk free position. Final target is new highs at 10500 area.
buying here with stops below the lows of the last test of this support.
Friends, In addition to this live chart, I just finished a refined analysis on $DAX here: - Cheers, David Alcindor
Please give your thoughts on which way you feel it may go I feel it it could go to 0.618(9816) and then drop but also it could go to 1.618(9573) what you think?
Today Dax is down to it's first support zone 9880. Last 4 weeks Dax is consolidating in a 155 points zone. For the 5th time we get in the 9880 zone. From here there are 2 options. Support maintain and DAX go futher upside again (10050 top). Other option is a break from the short trendline and 9880 supportline. This brings DAX to next support level 9800. There is...
Hope we get a re-test of highs in the near term. I am ready to enter short at the highlighted area. Let us see... Petr