DAX update 29.08.17
New opportunity arises after todays down gap.
I was stopped out on my last Dax trade loosing 1%. It happens to everyone. The market could not move higher due to a bullish sentiment that was much too strong. Today this turned as people expect more down time. I don't..
I got into my next long trade at 11911 (special number, I liked it :D) This is what I expect next:
Straight edges of daily clouds work like magic in most indices. After I saw my 138% extension fitting perfectly in this picture I was instantly hooked and decided to do make a new trade.
So I expect a 5-3-5 or ABC wave pattern. The approximate levels are 12200, 12000 12445
The best thing about this trade is that the risk is ONLY 42P and the potential reward is 534P. That is an insanely good risk rteward ratio of 12.7 : 1
This trade will take a while (3-4 weeks) or will be stopped out soon... We will find out soon if it hits off as I expect it to.
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 :-)
Nice Play. Good numbers for risk and reward.
what do you think about a bitcoin price correction?
I'm speculating bitcoin corrects a decent bit and ethereum runs higher.
Would love to hear your take :)
I see BTC between 5200 and 5500 very soon. From this point (after wave 5) there will be very decent correction ( could be anything between 1-3 thousand dollars down, which will hopefully push BCH to the moon.)
I am not holding bitcoin anymore I am just trading the BTC CFD up ( it's an over the counter deal, no real BTC involved)
See my last post to check out which cryptos i like and am holding ;-)
thanks for sharing.
You are welcome ;-)
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STOPThis is what I was searching for. Don't belive it Ahaha. Cheers ....
You are welcome ;-)