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Today's chart of the DAX - before opening of US markets after a holiday - we need to learn a principle of reading the chart.
First - a LONG candle in a time slot is important to see how the price will proceed. In my case I am looking at the 30m chart.
We are watching the start and see a very long candle in the 30m chart.
The LEARNING:
Price needs to get back to the middle of the long candle. (See chart's yellow circle).
As long as we do NOT see a rebound to the middle of the yellow circle (half of the candle) - we will not see a reversal of the price. Means the direction will not turn and increases speed...
USA yesterday red, NASDAQ -2.6%, S&P - 1.8%
Asia all red, NIKK -3.1%
DAX will start lower today as well
No important news during the cash hours of the DAX.
No speeches.
GFIs1
edit 7:30 - DAX pre cash 7:30 down on yesterday low killing the 15700 line
edit 8:04 - price already lower than yesterday's low of yesterday 10:30 candle
edit 8:45 - actual price already 41 points lower than yesterday's low
edit 13:11
1) Lawrow resumes of the meeting sends the indexes down... - so far on track
2) Lagarde speech has not yet started...
The signals are very red, we will see...
edit 13:59
3) DAX 15444 is on the plate (which is 261% Fibo)
Asia mixed: NIKK up a bit, Hang Seng -1.3%
btc$ now sideways after a slip to 34k, now 35.3k
Many company numbers (yearly / last quarter) expected this and next week.
Important meeting on Wednesday: FED decision on interest rate
No speeches today
Germany: Some numbers in the day - starting from 9:00 to 14:30
DAX in the lower area of yesterday - now @ 15497 (Tenkan Sen 30m)
Trading earliest start 9:30 today - as numbers are on the table 9:00
