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.

Wednesday, 22 October 2014

#dax $dax

I have laid the blue 'a-b' count on the hourly chart from yesterday's 'is it or isn't it' dilemma. The 100% extension of 'a-b' is up at 9171 with 123.6% being 9297. Given the 61.8% retracement from 9892 is at 9202, that is more than enough room to consider pyramiding pull backs, hopefully this being one of them. The 9040 zone is the 50% retracement from 9892, which coincides with the extensions noted in the last post. Given I am not sure if the drop to 8351 is actually over as yet, I'll assume the market is not either, but when it is, these pull backs should become firmer to trade against. For now 8864 seems to be holding.
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