It appears as if the German Dax set up a nice bear trap last week. The drop from mid-May as well as the subsequent bounce appears to be 3 wave swings. Moreover, the other main European indices appear not done with their correction to the downside short-term. Depending on the intensity of a further selloff, Europe may set the path for the next big swing and potentially decide whether a cyclical top is in or not.
The best strategy is to stay on the sidelines and protect capital. A new opportunity will pop up sooner or later. At the moment it appears likely that the Dax will dive below its May 2018 low or correct in a sideways pattern.
However, things are very different if the German index exceeds the red trend channel immediately AND another major European equity index confirms this action. That would be a strongly bullish signal and we would not want to miss an attempt to hop on German equities. Ultimately, this should lead to a break of the May top, which means that the Dax shows a non terminal elliott wave count. This would further imply that a break of the January 2018 is sooner or later on the menu.
Activation: Confirmed (2nd Mkt) break outside red trend channel
S/L : Low of the curret swing (started end of last week)
Target: >13,600
The best strategy is to stay on the sidelines and protect capital. A new opportunity will pop up sooner or later. At the moment it appears likely that the Dax will dive below its May 2018 low or correct in a sideways pattern.
However, things are very different if the German index exceeds the red trend channel immediately AND another major European equity index confirms this action. That would be a strongly bullish signal and we would not want to miss an attempt to hop on German equities. Ultimately, this should lead to a break of the May top, which means that the Dax shows a non terminal elliott wave count. This would further imply that a break of the January 2018 is sooner or later on the menu.
Activation: Confirmed (2nd Mkt) break outside red trend channel
S/L : Low of the curret swing (started end of last week)
Target: >13,600
Pesanan dibatalkan
...has not gotten there!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.