$dax #dax

Playing short yesterday afternoon worked out fine but the daily rsi study lost its negative divergency. Obviously the stoch study is still showing it, but with price nudging the ichimoku cloud, a break here could see enough of a move to make the subsequent retracement a cloud tester from the upside. As discussed during the week, MyWave has been turning up as a result of persistence at the lower degrees and with the 61.8% retracement line defended yesterday, the 76.4% at 9777 looks a reasonable target zone. I have replaced the Bollinger band with a new study based around MyWave, which is following the gradient of the regression channel off the low, for now. So, the plan.....work off any downside remaining from yesterday's punch up and then look for a move that may penetrate this cloud. Key for me is to be on the right side of the decision, so careful is the watchword today with announcements and decisions coming out of ECB.