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.

Tuesday, 28 October 2014

#dax $dax

16 pip cycle

Price is peppering the 76.4% retracement of yesterday's high to low. Stochs are overbought and ADX high. If it is going to turn down, around here is probably the last stand. Currently, MyWave is bearish at this degree.









8 pip cycle


The 8 pip cycle has turned bullish but MyWave is down at 8920. Given the stochs are oversold at this degree, I think more grinding into that 76.4% yesterday's high, either to let this degree catch up with price and/or to roll over the 16 pip cycle to bullish. No place or time to be long for me with that gap between price and MyWave.




4 pip cycle

This degree is also bullish and given the proximity of MyWave, it is leading the 8 pip cycle for now and putting the pressure on the 16 pip cycle. Who is zooming who? The closer to yesterday's high, the safer the short form me, whilst the 16 pip MyWave is down and the stochs overbought.
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