Disclaimer

Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Wednesday 27 August 2014

#Dax $Dax Dax

Price has opened this morning at 9582; this sits at the 127% extension of the 'a-b' up from the low, just shy of the 61.8% retracement of the high, at the 200sma for the daily and 4hour charts. Throw in the overbought stochs, the negative divergence on the 4hr & 1hr rsi's and I am still looking for a pull back. The hourly 200sma sits below it's ichimoku cloud at the 50% retracement target of 9247, which would also have price nested in the 4hr cloud. Enough of a goal for now, although I am mindful of the daily overhead cover there.


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