So far the low at 12090 could be the bottom. We will probably find out tomorrow.

In my last post I told you about two bullish black swan patterns that could trigger a new upmove. The elliot wave count supports that although there are a lot of alternative counts possible right now.
https://steemit.com/the50/@ew-and-patterns/dax-update-30-07-2017

Right now there is a possibility for an inverted SHS pattern in the 4 hours chart:

You can clearly see that the bulls are trying to gain ground again, but that usually takes a while, because the possibilty of a large correction until the end of September is still luring. It is either getting in way too soon or missing the good buy levels completely. As always this is the dilemma.

So if I see a move like this, I will take that as confirmation that the downtrend is not continuing immediately, and a new impulse could be forming.

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 :-)