In this free market update, we focus on the Dax charts. We’re seeing a disconnection in Stock Indices. We also look at Cryptocurrencies and in particular, the Bitcoin chart.
In this update, we take a look at the DAX daily chart and the Pro-Trading System Buy signal.
A strong move higher on Tuesday morning brings this chart into a very interesting daily resistance zone. If we believe the 5 wave sequence is complete then we should push higher into a wave B. The B wave attracts the last of the bulls who will soon be disappointed as price fails to go higher and then rolls over. Today we are seeing a brand new buy signal on the Pro-Trading System which could carry prices above 13,000. We will be watching other Indices closely and then look for the B wave to complete on the DAX for potential short red PTS signal. This could then could complete a wave 5. Long trades for now.
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