This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
Tuesday, 7 July 2015
The Dax broke the 3/8 retracement of the major range yesterday.I am still
targetting 50% around15/16th July with the 5/8 line possible if there is
more extreme selling
from Sukimoto IF the DAX is coming down impulsively rather than correctively then EW reveals a potential leading contracting diagonal setup. Down for just one at likely intermediate degree. Expanded flat for intermediate 2 that retraced back to the 50% of the wave down.. There has just been one further wave down at probably minor degree that is wave 1 of 3 that is almost finished. If this count was playing out will watch whether or not price gets down to the 10651 area and then starts to retrace up as this would be a good fib point for that to occur.
from Sukimoto IF the DAX is coming down impulsively rather than correctively then EW reveals a potential leading contracting diagonal setup. Down for just one at likely intermediate degree. Expanded flat for intermediate 2 that retraced back to the 50% of the wave down.. There has just been one further wave down at probably minor degree that is wave 1 of 3 that is almost finished. If this count was playing out will watch whether or not price gets down to the 10651 area and then starts to retrace up as this would be a good fib point for that to occur.
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