Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
5080 has proven to be a formidable resistance for Cac.
With that clear line in the sand in place, we could work out the risk reward of our shorts with no ambiguity.
Can you help answer these questions from other members on NexusFi?
Market at a cross road since ES has tested the 200D MA and found a reaction there.
The reaction in the European equities has been more dramatic.
However, the bears were not able to gain a solid follow through on Friday and the bears are losing their initiative.
If the bears failed to hold the 200 day MA, then the melt up would continue and the price is likely to get squeezed above 2750 toward 2780 area.
Cac is targeting a poor high and unfinished business at the old 5080 resistance.
It is very likely that the 5080 is going to be taken out today and the next resistance in line is 5120 and then 5150.
A full extension (200%) of that M top is going to bring DAX to 11045 at the weekly pivot level.
That could be the big down side target of the day for DAX.
Yesterday the poor low has not been run by the market maker, which says a lot about the strength of the market.
In fact, around lunch time the order flow was showing clear intention to assault the poor low to run liquidity.
But all those market sell orders are absorbed like sponge.
It is likely that a big fish has stepped in defending their holdings from 11120 level.
Yesterday's price action in DAX has turned a bull flag formation.
NOw it is ready to challenge the 11400 resistance fairly soon.
We can gauge the strength of the market by how it interacts with 11300 resistance.
Bear in mind that the round number is never the final destination, 11280 and 11320 can usually be the liquidity pool.
I will monitor closely the order flow around/at those levels.
