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Monday had a Hi/Lo of 296 points (until 16:50h). **
This means a heavy drop and no trades for 2 days.
So we will have a look at the High vola thread.
Before Friday we can not take a normal trade here.
It is always better to sit on hands than see the points
going down the river...
The correction time is not yet over. After a first one (mentioned a bit earlier here)
now the second correction is on its way.
A glance at the bigger picture:
From Ichimoku chart we see that today price already dives into daily cloud.
At this place the cloud is NOT thick and the bottom is horizontal. This means
that a cloud crossing seems highly possible.
From that scenario a stronger slip seems to be the response:
From ATH to mid Kumo a slip of 750 points are to count - price 9250.
Another 750 points down which is a normal movement in the Dax Ichimoku
chart - we reach @ 8500.
Looks not bad to see this scenario if price really crosses Kumo within the next 4 to 6
weeks.
Some points out of the real world: low oil price (bottom not reached too), Greece,
yearly company results (bad outlook means tax reducing options), shaking
forex markets etc.
Tuesday - still in hi vola - we can find a ONE new pattern of the
"Wiener Walzer":
First - previous days must have shown more than 150 points during cash hours
Second - the BODY of a 30 min candle has to show more than 50 points
Third - …
Might see another pattern like this today again.
Just be aware of strong moves these days.
A lot of money has been evaporated and the markets are still in high alarm mode.
Even some well known brokers were broken this week and are now out of business
or in a desaster mode. Some more will show up with the same problem next week.
Thus: as mentioned earlier it is better to sit on hands than to burn the account.
