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THe first wave started with that long last friday afternoon,
In fact I was only looking at the first 30 minutes of the opening. There price
went rapidly up and a "second wave" was foreseen. It came out as planned.
Hope this helps
Now - at a calm (?) day we will have a look @ the Dax and movements.
As the price in the 1h is in the Kumo - there is some erratic up and down
as what we do have to expect. Fortunately there was no GFIs1 trade on
the schedule though
What we can see is that the price is really testing ups and down of the Kumo.
I am expecting to see a nice down movement tomorrow Wednesday (as always).
Look @ the black arrow here:
Hi @GFIs1, I am still open to upside from here as the rise from 7650 to 8050 looked like a pretty clean 5 wave impulse move and I struggle to see the fit for now.
We may have just completed an abc correction today or are still in a more complex correction with lower needed first. Pushing above 7960 and 8060 may confirm significant further upside - maybe even new year highs as the drop from 8500 was not a convincing impulse (imho) and there are lots of open gaps up there. That said, losing 7800 and 7650 could be terminal for this summer's market and violent drops could follow soon. Who knows? Maybe the Kumo!
*** IMPORTANT NOTE to ALL readers first:
This thread has NO indication about entry or exit nor does it provide ANY signals! (live or not)
but is for testing reasons and discussing results ***
Goal: Finding an indicator …
I assume that you see the further needed downtrend here and now
As I am pointing out in my 1h chart in previous post is that the price HAS to get out of the Kumo on the
lower line - and from there it is still a long way to 7430.
We have seen that the levels of 8K are definitely over and that some picking for lower accepted levels
are obvious.
I am sure to see lower prices soon.
outlook
1) a day befor US Independence (US closed)
2) Friday open again and many US numbers
3) today a short expected
4) a upcoming downgap visible
Looks like we get two interesting days today and Friday
In the bigger picture of the Dax we see a final upmove yesterday and today.
KijunSen (blue line) came down today to 8035 - exact this price has been
reached in the last half hour. Kumo is still getting stronger - the long scenarion discussed in the thread
is still valid.