DAX - 1 hour:
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DAX Index Cash closing of 11412. Bearish reflecting resistance forming at 11394. Resistance forming and support of 11514. Resistance is to be found starting at 11865. Only a break of 11212 on a closing basis would warn of a technical near-term change in trend.
Trading explanation!
Bullish reversals: If the market should close above the reversal point, then the downtrend will be "reversed" into a bullish or increasing trend. The first reversal point indicates that a move to the second reversal is likely. The second reversal point signifies a move to the third point is probable and so on.
Bearish reversal: If the market should close below the reversal point, then the uptrend will be "reversed" into a bearish or declining trend. The first reversal point indicates that a move to the second reversal is likely. The second reversal point signifies a move to the third point is probable and so on.
Experienced traders: could use reversal points for the opposite of their intended use. Example: A trader could place an order to buy against a bearish reversal with a
Note:
When a reversal is elected but the price is substantially below or above the number, the market will retest the reversal before it resumes the indicated trend. Reversals that are elected by only a few ticks offer the best indication of immediate follow-through.
Trading explanation!
Bullish reversals: If the market should close above the reversal point, then the downtrend will be "reversed" into a bullish or increasing trend. The first reversal point indicates that a move to the second reversal is likely. The second reversal point signifies a move to the third point is probable and so on.
Bearish reversal: If the market should close below the reversal point, then the uptrend will be "reversed" into a bearish or declining trend. The first reversal point indicates that a move to the second reversal is likely. The second reversal point signifies a move to the third point is probable and so on.
Experienced traders: could use reversal points for the opposite of their intended use. Example: A trader could place an order to buy against a bearish reversal with a
Note:
When a reversal is elected but the price is substantially below or above the number, the market will retest the reversal before it resumes the indicated trend. Reversals that are elected by only a few ticks offer the best indication of immediate follow-through.
Trade geschlossen: Ziel wurde erreicht
You can stay or take profit...Anmerkung
The strongest target in the Weekly array was November 12th for a turning point ahead. The turning point is/was downside. When the Indicies goes up they will turn lower, the bearish resistance forming number today DAX - 11391 it means sell. Profit area follow my trendlines or stay in the trade. We also have a choppy period starting October. 29th until December 10th. with each target producing the opposite direction for that 7-week period. Notice: producing the opposite direction until December 10th . When it goes below 11391 it produce the opposite direction. Yesterday DAX bearish resistance forming at 11394 – it went down to the end off the channel (trendlines) and back up and above 11394.
Germany30 and S&P500 Intraday analysis August 23rd. and weekly update 34. Posted at twitter: twitter.com/SP500_Dow
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