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.

Friday, 17 October 2014

#dax $dax

Last night, I was watching a contracting diagonal on the smaller time frame chart and thought it might be a leading pattern. Obviously this was not the case, and it appears that it was actually an ending diagonal in an irregular flat for the 'b' wave of this run up. As such, the 100% extension is at 8811 and the 123.6% at 8875. Given the H&S neckline is at 8900, I'll assume for now that is likely to be pulling hard at the price action, the nearer we get. I have marked the EW counts on the stochs for my reference. We may still be in the red 'b' back, so will have to see how that pans out.
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