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.

Friday 29 August 2014

#Dax $Dax

Still a bit of a mixed picture between the weekly and daily clouds but on the 4hr, the bullish channel off the 8902 low is still up and price is above its ichimoku cloud. The 76.4% retracement from the June high sits at 9777 and given the price action so far, rejecting off the daily 200sma and the 61.8% but inside the 4hr channel, I am leaning towards more upside after this correction concludes to the downside. If that be the case, the daily cloud is vulnerable to being leaped, given the weekly support. For now, the hourly trend band is down and price is in the cloud, having made it back to where I got off yesterday. Whilst price is under the 9490 opening line for the day, I'll be looking for shorts again, but will not be hanging on to them for too long, given the above summary.
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