Been a busy week with travelling/meetings and the Dax has decided on a bearish tone from earlier in the week. With the break of the lower perimeter of linear regression channel up from 8902, a retracement to the 9357-9280 zone looks realistic, given a 100%-123% extension of the current 'a-b' legs and the 50-61.8% zone. Price is currently oversold on the 4hr chart, deep into the volatility channel with positive divergence on the stochs, so a pull back to short again would be a better proposition than here.
The 50% back, on yesterday's price action, would be 9593, so the 9600 zone looks a reasonable place to hunt for an entry, which should coincide with the downward regression channel and moving average bands above. The 2hr stochs need to reset themselves anyhow, so some upside or chop chop sidewards is needed.
The 24pip range bar study is similar in timing moves to the hourly chart, but without the time element, the volatility channels are much smoother. The upper perimeter of the VC may drop lower than 9600 by the time gets there, so maybe that 9587 low I was tracking Monday, may be just enough. Looking for the rsi and stochs on this study to go/stay negative higher up and for the daily VWAP to turn down (white line). Catch up later.
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