• 4 days Quantum Computing Is The Newest Megatrend In Silicon Valley
  • 6 days How To Invest In The Cybersecurity Boom
  • 7 days Investors Are Patient With Unprofitable Giants
  • 9 days Wells Fargo Back In The Scandal Spotlight Once Again
  • 11 days 5 Stocks To Keep A Close Eye On This Year
  • 13 days As Auto Giants Flail, Look To Chip Stocks For Gains
  • 13 days Central America Is Ready For The Bitcoin Hustle
  • 15 days China’s Video Game Restrictions Unlikely To Slow Down Booming Industry
  • 16 days Top Performing Stocks As Inflation Fears Grow
  • 17 days US Airline Stocks Take A Beating On New EU Restrictions
  • 18 days This IPO Could Open Sustainable Fashion Floodgates
  • 19 days Crypto Crime Nets Another $2B Fraudster
  • 21 days This Week’s Hottest Meme Stocks
  • 23 days Why World Markets Should Be Watching Germany Closely
  • 25 days Could ‘Cultured’ Meat Rival The Plant-Based Megatrend?
  • 27 days ‘Easy Money’: Crypto Is Still Attracting Newbie Investors
  • 29 days Foreign Syndicates May Have Stolen Up To $400B In COVID Benefits
  • 30 days Gold Jumps Above $1800 Ahead Of Jackson Hole Summit
  • 30 days International Banks Blacklist Afghanistan Following Taliban Takeover
  • 32 days China’s Tycoons Are Getting A Serious Reality Check
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

TheWaveTrading

TheWaveTrading

TheWaveTrading

My goal is to establish the most likely path that the price of a particular asset will undertake and profit through ETF instruments both on…

Contact Author

  1. Home
  2. Markets
  3. Other

DAX: Short Setup

Weekly time frame:

  • If the EW count that I am following is correct the corrective decline from the April 2015 top is not over yet, as one more down leg is needed to complete a Double Zig Zag
  • From the February low, the assumed wave (B) has recovered to the 0.5 retracement of the previous down leg.
  • We have to wait for the weekly print in order to see if price fails to reclaim the 20 wma = 10107. If this is the case and next week the support at 9899 does not hold then odds should favor at least a pullback at the 10 wma = 9630
  • A weekly close below the 10 wma would increase the odds that the rebound from the February low is over

DAX Weekly Chart
Larger Image

Daily time frame:

  • Price has carved out a Rising Wedge
  • Today's Spinning Top can have established at least a s/t top
  • A larger pullback is probable provided the 10 dma = 9905 is breached
  • The break down of the rising wedge would open the door to a decline towards the target box that has a range 9572-9405

DAX Daily Chart
Larger Image

 

Back to homepage

Leave a comment

Leave a comment