Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Looking at the Dax chart with Ichimoku there are some important points reached right now. The red and supporting Kumo (cloud) is now exhausting and forming a Dinosaur head. At the same time with today’s price red TenkanSen and blue KijunSen lines formed a cross - means a price reversal.
Green lagging ChikouSpan is moving to the blocked area of Tenkan and Kijun.
Scenario for price into January:
1) interim low is reached now - some slight upmove for year end to (blue Kijun) @ 9206 is foreseen!
2) From January price might fall and cross red Kumo until mid January at the thinnest point to come down to the same level as Chikou will have resistance @ 8796.
3) A quick reversal from there to resistance of Kumo @ 8958 area is of short interval until
4) the next down leg (this one longer) should reach first goal of @ 8435 eventually @ 8356.
The described scenario is highly probable. The picture is great for Swing traders.
Some day to day analysis is necessary to see at which point the big picture is no longer valid.
Keep alerted for the next review.
Nevertheless, another great GFIs1 trade to start the week with, congrats !
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
Just reviewing Monday's straight strong move up to now (15:00h): update 17:30
Day range: 181 points197 points
Volume low: <60K 85K
Difficulties: - FED news Wednesday, - last week before Christmas
Hint for Tuesday:
NO trade (rules) as range is >150 points
highly possible chop chop before FED announcements
9206 should be reachable - maybe on Wednesday
Best to stay at the sideline and protecting capital.