Dax reached target zone,now up towards 12800 before next crash
The ones who have followed my DAX strategy since 2 months ago where i called the bear market would start from the 13440, know what my plan is. I am still waiting for the ABC (wave 2) to complete so i can build up a very big short position between 12.500/13.000. A week ago i said i was still waiting for a lower low around 12.100 where i expect wave C to begin and start the big bull trap. I think that moment is now. I just went long around 12.100 because i saw a very small reversal pattern on the 1 and 5 min chart. I don't have a target yet, but i will probably start to close it if we get above the 12.500.
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Target of this H&S is the high of today, that gap is going to be a big resistance. It it's able to break it, we could see a small rally this week
Target of this H&S is the high of today, that gap is going to be a big resistance. It it's able to break it, we could see a small rally this week
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First sign of weakness, could just make a bull flag here
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Weakening, but could find support here
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Think we will see a big rally in the US any minute now. 25% we see a big drop
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Could find some resistance here now. Still think we go higher though, at least US markets probably. End of the quarter today
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Looks like US will make another wave up tonight
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Wrong one :)
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And there it is, think it will push much higher even
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Target reached
Price has dropped much lower than i thought it would. I think we a low set now. I am flat now and not going long again because it's just to risky. On the 1 min chart it seems to be making an attempt to make a reversal.
I really don't know what the market will do the coming months, TA says we maybe tests some resistances and continue the big drop. But i am hoping the market will do what it usually does, not listen to TA and shake out bears. It could be i will start to short it in the low 12K levels, but i hope it will get into the high 12K's. Creating a big bull trap.
12.200 is a very big resistance level to watch if it gets close