The DAX has turned out to be super bullish in the last weeks. No sign of weakness at all. Wave 1 is still not done yet.
I saw it coming when I called the low in my post @ 29.08.17:
At this time the DAX was weak and I did not expect such a run up in wave 1:
After the long kumo breakout, the DAX started accelerating and extending. There was no chance to get out with a blue eye for the bears... We call this phenomenon "Fahnenstangenrally" in germany (flagstaffs-rally).
The thing is, that there are still a lot of bears in the market waiting for a correction to get out. They think "this sh.it can't go on forever". They will realise soon that they lost... And when they do, they have to buy, which will accelerate the hausse even more.
Because whenever you want to close a short position in the futures market, you have to open a buy position of equal size...
When you see shorts closing this is what they call a short squeeze. Big movement up on high volume in a short time...
.png)
Some of you may remember this chart I posted. It was long before the correction was done and I did not think about it for a long time.
.png)
The target of this CUP is 17670 !!! This deserves three !!!
But yesterday I remembered it and I found this:
The handle of this huuuge cup could have the form of an SHS.
I don't have many words for this beauty. If those two patterns trigger... it will be explosive.
Also have a look at this channel:
BOOOM!
If you think this to be useful information:
DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post.
If you make any trades after reading this post it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Tell me what you think...
Have a nice day :-)
UPDATE: I think the DAX has completed the high of wave 1! I don't expect more ATH's in October. Making an update tomorrow.
These patterns are so beautiful. Can't wait till I understand them all <3 thanks for sharing your wisdom, Mighty One. *Bows * Alliance HAI *karate chops all the graphs *
Thank you.
woosh
Danke erneut für die großartige Analyse. Wenn man nicht aus der Szene kommt, glaubt man manchmal, man ist im falschen Film. "Cup and Handle". Es ist schöne jeden Tag an aktuellen Themen der Analyse von Charts näher zu kommen.
Schönen Abend und guten Start in die Woche
Danke, dir ebenso ;-)
This post received a 1.6% upvote from @randowhale thanks to @ew-and-patterns! To learn more, check out @randowhale 101 - Everything You Need to Know!
Very good Technical Analysis
Let's see buddy
Technical Analysis is best way to predict future Market behaviour
Last time you Reward me on comment,This time i think you discontinue the package .
Waiting for your post but unlucky : )
Anyhow
Sir , i Resteemed your post & also continue in future..Without Any cost
You have done a good Analysis
I will continue the upvote for resteem service occasionally on some of my posts, but right now my VP is down and I have to wait for it to get back up again...
Watch for SPECIAL OFFER
The rate of adrenaline at the highest level after the news of Ascension
real useful pal keep it up :)
Sneaky Ninja Attack!!
You have been defended with a 17.69 % upvote!
To help keep my Jōki (蒸気) power strong I rely on the townspeople of Sōsharumedia (ソーシャルメディア).
I was summoned by: @ew-and-patterns.
I have done their bidding and now I will vanish...
woosh
Excellent!
Upvoted and Resteemed!
gute Posts machst Du!
trotzdem Charts - sehen doch eh einer wie der andere aus. ;-) also was ist hier was:
Oben DAX unten BTC ;-). Tausendmal gesehen beide Charts...
So einfach ist es leider nicht. Nach jeder großen Aufwärtsbewegung kommt eine schnelle, große Korrektur. Die Kunst ist es, vorher zu wissen wann sie kommt um nicht am High zu kaufen... sondern zu verkaufen
jou das is mir wohl bewusst das es nicht so einfach ist. Der Weekly Hammer im Dax in den 1.Sept rein war aber doch ein einfaches Signal, das hat mich quasi gewundert das der Trade ohne Haken und Ösen zündet.
ab 12600 bearisches sentiment, short covering, boom.