DAX update 02.01.18 by ew-and-patterns

View this thread on: hive.blog | peakd.com | ecency.com

dax · @ew-and-patterns · Jan 5 '18 (edited)

$140.60

DAX update 02.01.18

# The DAX made a new low @ 12745. I did not really understand why it stopped there and did not touch the lower line of this channel:
![chart-02012018-1558-DAX.png](https://steemitimages.com/DQmUrUAkemPhcskjyvrhfVskr3TdSxCTkba1w7SH5SNo5hj/chart-02012018-1558-DAX.png)
# It was strange, because the downmove was stopped decisively, but in the middle of nowhere. What was going on?
# While looking for answers, I drew some trendlines and then it dawned on me why it had stopped in the middle of nowhere...
# It was a precision hit of the last man standing uptrendline of the uptrend since February 2016.
![DAX.png](https://steemitimages.com/DQmdmciDfZyrXfGjitTz54AimZD8iNBYThq2Ft5oMe3wDUt/DAX.png)
![DAX(2).png](https://steemitimages.com/DQmSEqyL9Uc4jYZ8hCadccPBvfgZ9LpByo9ihrQ1saQcUE8/DAX(2).png)
# You probably have no idea how significant this precision hit is.
# It could just have ended the downtrend. This is why I will only short the DAX again, if there is a new low. But I don't really think there will be a new low right now...
# This is why I closed my short trade from 13000 @ 12822 bringing in some nice 178P of profit. I closed it after seeing that the resistance line @ 12813 was easily surpassed.

![chart-02012018-1554-DAX.png](https://steemitimages.com/DQmaH5PRRhoNDhUDY9WpGGtLFEy8v4gxnWq24FnNjFF6Z1S/chart-02012018-1554-DAX.png)
![chart-30122017-1259-DAX.png](https://steemitimages.com/DQmf6EUVqq8vRkravQhD8Ga8byu9BPrFrVbasup1iTmVwTB/chart-30122017-1259-DAX.png)
# I will not double up my short as I planned to do. Instead I will not open any position in the DAX until I see confirmation of a direction (meaning a new low below 12745 or a new uptrend establishes...)

# Update: in the time I was writing this, the DAX gained 80P. This could evolve into a new uptrend...

![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)
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
![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. Please conduct your own due diligence, if you plan to copy anyones investment decisions.
If you make any trades or investments 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.



Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...

Have a nice day :-)

👍 cryptopassion, ew-and-patterns, newhope, allyouneedtoknow, worldclassplayer, judyhopps, mys, fahmidamti, arunava, peppe, biovab-jojik, forexbrokr, payforplay, drifter1, korgulos, cyfi, toppy, anubisthegaylord, embutv, greatness96, carryminata, mustaqimway, contentguy, onlineprds, thealliance, aashishkandel, robinsonlgil, olayar, glamosaur, saeryn, smb14, vimukthi, kkotto, beet, crypto-pontiff, jfernandez, drpomme, jack353, philipuyi, mondaymornin, carlobelgado, enginewitty, m3rcos1ty, michaeldavid, rojinstha13, omgrofl, kosaxd, murtaziqah, noumanhafeez, saurabhdey, zuski, nageshwar0369, genesisrugeles, zairawasim, extasispro, yvonneinoregon, ivelton, hafis001, massive-pop, aaabangganteng, alhafidz, verasj, miqyk, joanaltres

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@arslanhyder · Jan 2 '18

Really good work. Charts makes it easy to understand and compare the rates going up and down.

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@bitton · Jan 2 '18

$0.74

You got the mind for investments in crypto.
You just got yourself a new follower.

👍 bitton

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@fahmidamti · Jan 2 '18

$0.41

Hi friends, can I use this article for my post to Indonesian

👍 fahmidamti

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@faissalchahid · Jan 2 '18 (edited)

Wow.... ❤❤❤Just because of the subsidies
The magnificence of this analysis is very logical

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@hakeemshah96 · Jan 2 '18

I Will Glade Some One Upvote On My Comment.So Nice Post I Like Your Every Post I Hope Steem Will Take To You To Next Level And I Wish You More Success In Future Thanks

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@haseebkhan13 · Jan 2 '18

simply awesome. Just love the way you wrote the post. Keep it up
Happy New Year

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@moche6 · Jan 2 '18

Awesome💕💕💕.
Kindly upvote

👍 de-treasure, sanzycool, moche6

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@philipuyi · Jan 2 '18

The charts just made every thing easy to understand, very helpful analysis, can i please also share them

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@stealthgoat · Jan 2 '18

@ew-and-patterns payed 22.0 SBD to @minnowbooster to buy a stealth upvote.<br><br><a href="https://steemd.com/tx/f1eec44653f410f526c5bae0dfb168f0e7aed34e">transaction-id f1eec44653f410f526c5bae0dfb168f0e7aed34e</a><br><br><img src="https://steemitimages.com/DQmTXdfMSPGNzsdQRoPAUAm8Xc9gDDM47QfiBLsJAck4iA4/goat-2153622_640.jpg"><br><br>@stealthgoat

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@verasj · Jan 2 '18

I upvoted and resteem.  This is very informative indeed.

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@waleedahmad111 · Jan 2 '18

very nice and informative post
i will share your charts so other can take help from them.and also to praise your work.good post

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@zairawasim · Jan 2 '18

![103.jpg](https://steemitimages.com/DQmVgfN8jeLSdRZWZ4Kfe4mkCxqCtRcFRreaFYhQtvjoVRd/103.jpg)

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