Price ended on its low on Friday @ 9549 (future). Looks like the above chart is not wrong
about the strong and quick correction. ONLY: in reality it was quicker than previewed.
Next week triple witch on Friday. And holiday weeks start right after...
On Monday the landing on 9512 expected. Though no trade here because of the extended Hi/Lo
in price range. Drop was 225 points during cash hours.
Weekly support (cloud) is shrinking. A walk through the cloud is highly possible from January.
Cloud bottom then 9000. From there for some weeks later a support at 8500 could be reached.
Just a thought about the next price movements short and medium term.
Last edited by GFIs1; December 13th, 2014 at 06:23 PM.
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My system in this thread excludes a trade in volatile moments (+150 points Hi/Lo on previous day).
So we see some wonderful points fading without participating...
For this I was using the time to find some patterns that are working even in these windy fields.
My extension to this journal can be found in a new thread.
I even present the really easy rules for your own purpose:
Discussions in Ichimoku circles are about the theme if the down correction in the Dax has
finished now with this counter-move of today.
From my point of view there is NO such sign!
There was a slight problem in lagging Chikou Span. This is no longer the case and for the
actual price the cloud is so thin that it is of no support.
If price is coming down to cloud or crossing - then the next few weeks some more correction
(8500 area) is most probable.
It is well known that especially during holidays with low volume price movements to certain
areas are drawn like magnetic.
With all the popping up problems around the world a year end rally is no longer impossible.
More a coming down to more historic accepted levels.
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