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Some trend testing this morning - volume looks still ok.
Price might get up to 7923 - means VWAP from Friday.
The starting moves are not really encouraging though.
The scenario of opening today really higher which was
discussed in an other thread did not happen.
Conclusion:
1) conso day
2) not much vola expected
3) trend still down in the daily
4) bespoken down scenario still valid
Yes @GFIs1, I think Dax is at a big decision point/time right now, could be interesting week as we had
fast up and the down while in the Kumo area, was interesting to see where this is in the waves.
Interestingly the today's normal trade would have worked - but:
the battle @ 8000 did not work out - by 0,5 point
The daily Kumo above actual price is really hard work.
Expecting some resting at this level today before it
may head down again.
The main trade will be on Wednesday (a short I assume)
and there will be the proof of the downleg scenario.
Nice try - price moves above KijunSen within daily Kumo.
Looks a bit as a summer thing - volumes lower than normal.
KijunSen today is @ 8026 and base of Kumo for the next
weeks still @ 7996.
Expect to see tomorrow a good short on this one.
After some discussion in the HiLo ES thread about development of
ES and Dax in the coming weeks I try to post here a actual view of the weekly Dax:
We can see that
a) Price is far above Kumo which works as a good support right now
b) This weekly candle is nw out of the red spiral - which means a further (fast) down movement is possible
c) we can see at the flesh near touching support we have the green spiral which means another turn up again
will be highly probable at this level and after interpretation of the form of the Kumo.
All in all we do have a flush down to 7400 area before price is sharply turning and may give higher highs this year.
This is a scenario how GFIs1 sees and interpretes here (leaning out of the window - hehe) but there a zillion
of other views - so decide on your gut and view! Good trades
