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As @Symple showed - the DAX made a tremendous head and shoulder pattern - just to dive lower.
My preview of last week at the beginning of the h&s pattern was described on the 161% Fibo. Then the price went above 261% to get back mirrored on the other side of the high. Today we can see the effects...
GFIs1
edit 9:34 - the opening gap was by far not closed.
Price just went back to 14k again - to say (hopefully) good bye!
Here we talk about a "W Pattern" to the south side.
I am already in the clear that I show here partly chart technical things which are not quite simple for the beginners in the Dax, as well as elsewhere to understand and also to see for the not accustomed eye.
Hope you still enjoy it and can take out some value for your own trading
Symple
The following is the result of this pattern from today:
DAX long 9:30 to 16:30
entry @ 14118
exit @ 14067
result -51 points
GFIs1
edit 8:33 - pre cash started with up gap. Assuming that the gap to yesterday cash hours will be closed on then IB (14078). Just to follow the path all Asian markets made today - up!
edit 9:10 - the gap (see above) had been closed - so green is the color of the day
