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.

Monday 8 December 2014

#dax $dax

Looking at the 4hr chart, the 100% extension of green 'A-B' sits above at 10242. If that RSi study pops the negative divergence into this diagonal perimeter, I suspect that a pull back may be limited to side wards action to provide room for more upside momentum. With the 123.6% extension sitting very neatly at 10500, it could just be, price just keeps moseying uphill, as it has done most of this move. Certainly, the stochs look like they have completed that downside cycle for now and if they hold, looking for shorts may yet again be premature. On second thoughts, I'll just play the longs as mentioned in the last post and forget shorts altogether for now.
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