DAX update 23.08.17 by ew-and-patterns

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blog · @ew-and-patterns · Aug 24 '17 (edited)

$17.09

DAX update 23.08.17

Today I present you two possible counts of the DAX. I think those are the two most likely next moves of this index.
--

First, the continuation of the downtrend...
--

![chart230820171954DAX.png](https://steemitimages.com/DQmcqM996xGN4MVaQyMcLbBqkXYzXyTSA8ZFe8bKdbMj5C4/chart230820171954DAX.png)

The DAX is still unable to break the downtrend of the last two months, which is why I have to favor the bearish scenario. The stochastics indicator in the 4 hours chart is overbought, which means that a significant drop in price could lead to wave of mass selling.

But, there is also a bullish scenario...
--

![chart-23082017-15957-DAX.png](https://steemitimages.com/DQmPaVbyToK34NCqj11rrKAt4XFdBkZEVLH22ebgX3Apwuj/chart-23082017-15957-DAX.png)

So if I see a strong move up after this little correction right now, I will buy some long positions...
![image (5).png](https://steemitimages.com/DQmSJFCmiPGGtTrvw93vM77RZsA56t47xh9DbFpbqJxfgoA/image%20(5).png)
If you think this to be useful information:
![DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk.gif](https://steemitimages.com/DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk/DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk.gif)
![image (5).png](https://steemitimages.com/DQmSJFCmiPGGtTrvw93vM77RZsA56t47xh9DbFpbqJxfgoA/image%20(5).png)

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 :-)

👍 knircky, minnowbooster, booster, randowhale, randowhalebonus, ripperone, twinner, ew-and-patterns, mys, joanaltres, ehujra, carlobelgado, fyrstikken, bue, cheftony, me-do, saeryn, rinaldi, holoz0r, watchzozo, beet, smileschin, makkarichs, gixiw, mskvartal, raffaplasticlife, omar.mahmoud, alexevolgin, sarahbiz, norder, birjudanak, anilmehta00, upgoat, kypy24, jojiemagno, emad909111, yurnichi, araceevay, vip-sidorshin, emmanueloppong, ahida, svew, cirhvoo, dillibabu, golonidze, bublix, medras, volodik, jaquanmccollum, cherdak, alephnull, fl1pstar, toton, stepanvasilyev, qwerasd, saylaepengui, susniper, kelerana, vonuchk, kumail-jaffri, resheep, ashfia, bue-witness, muliadilibra, and 20 others

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@booster · Aug 23 '17

<p>This post has received a 1.33 % upvote from @booster thanks to: @ew-and-patterns.</p>

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@ehujra · Aug 23 '17

$3.04

informative contents , agree with your analysis as technical analyst in both cases the moves will like that as you mention in your post, keep looking for more good stuff .

👍 ehujra, ew-and-patterns

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@joejustjoe · Aug 23 '17

$0.03

I see that "actual" BTC tagged $3650 or so and that was inline with your low end target. Did you exit your short? My GBTC just confirmed a lower high today so I am now looking for a lower low than the $680ish low that was set on the move that took BTC sub $3700. Things change on pretty much a daily frequency tho. :-)

👍 ew-and-patterns

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@ew-and-patterns · Aug 23 '17

$0.44

Yes, the target was hit like I wanted it to ;-) I missed the low, but I was able to get out at 3800ish.

It seems changing rather quickly but that is what I want... Big moves in any direction is perfect for my trading.

👍 ew-and-patterns

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@knircky · Aug 23 '17

Following.

👍 ew-and-patterns

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@ew-and-patterns · Aug 23 '17

$0.43

Thank you for your vote🔥, I appreciate it.

👍 ew-and-patterns

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@minnowbooster · Aug 23 '17

@minnowbooster upvoted this post!

![@ew-and-patterns got you a $1.75 @minnowbooster upgoat, nice!](http://minnowshares.net/upgoat/?user=ew-and-patterns&receiver=ew-and-patterns&value=1.75&hash=883)
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---
[Want a boost? Click here to read more!](https://steemit.com/minnowbooster/@minnowbooster/6rt2mn-introducing-minnowbooster-beta)

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@randowhale · Aug 23 '17

This post received a 3.0% upvote from @randowhale thanks to @ew-and-patterns!  For more information, [click here](https://steemit.com/steemit/@randowhale/randowhale-is-now-only-1-steem-sbd-per-vote-spread-the-news)!

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@rinaldi · Aug 23 '17

Nice post...

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@smartdeveloper · Aug 23 '17

$0.03

Upvoted and also resteemed :)

👍 ew-and-patterns

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@taylor.swift · Aug 23 '17

$0.03

Upvoted & RESTEEMED :]

👍 ew-and-patterns

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