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.

Thursday, 11 September 2014

$dax #dax

Daily chart continues to show a bullish MyWave (blue lines), but with price at the top of the volatility range (dark red), with the Ichimoku cloud below and overbought stochastics. Price has hardly capitulated at the 76.4% retracement from the top, and appears to have completed a 3 wave pull back yesterday. So, although I am flat overnight, I am looking for signs that this pull back to the 9746 line (again!) is a 'b' wave in that correction, and therefore we have another legs down to pick up that cloud and the orange 200sma in the 9500s. If price pushes on up to the 9800 zone, I'll be looking to sell anyhow, given the positioning of the volatility channel and stochastics. So, overall, bullish but looking to sell short term.
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