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, 10 December 2014

#dax $dax

Nice bounce out of that 123.6% extension overnight but I am keeping my powder dry for now. Those red dashed lines coming down the chart are the 50% speedlines from the top, through the sequential lows marked out with the pink boxes. As such, price continues to observe the bearish balance of this move down, so for now, I'll sit tight and wait for a reaction lower to this turn up. Those MAs above are 1-3 week Hulls, which albeit flat, are providing interim cover to the monthly's shown yesterday.
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