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

As suspected, shorts looking vulnerable without a push down, so have banked. On the hourly chart, yesterday's drop managed to get back above the 23.8% retracement of the move up from 9042 and is testing again today, having rejected at the 50% of yesterday's drop at 9507. This could be a lesser degree 'b' wave back, with the 76.4% above at 9556 being the target. I am looking long above the opening price of 9490, which would be in line with the 4hr trend as well, but expecting traction at that 76.4% target. Any falls below 9459 would probably be targeting 9386, being the 38.2% of the move up from 9042.
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