The Indices have been in a major bullish phase without any type of pullback since early October. We are due a pullback so it’s all eyes on the DAX. The FTSE has been the weakest index. Frankly, this time last year the indices sold off hard and with this major junction in the Dax and the huge 3 wave short in the Nasdaq right upon us, we are looking for signs of another sell off. We will keep you updated all the way if we see any signs of a drop.
The Dax pushed in the trend line from July 2017 and is now at a Fibonacci money line. 13320 is the resistance zone.
13346 is the daily PTS target which we have virtually met. We should see the first drop in the Dax from this zone, but it’s too early to say whether this is the start of a much bigger drop.
Trend Predictor on the weekly is out focus for this week and next. Looking to see if we get a break about the daily candlestick or we get green PTS long trades. We could decline another week, so we need to see bullish signals to want to get long with a big position. This is a good market and setup to want to scale into the trade. We will have to wait for projected PTS profit targets, but we are looking at 113 and 114 at least.
A low (oversold) Pro-OBS and Green PTS, so we are looking for new daily buy signals.
Same with the GBPNZD but this is against the Kiwi. We wouldn’t want to be long both the GBPAUD and GBPNZD, so pick your trade.
A big 3 wave long has setup on this market. Looking for longs on the daily with the green PTS signal.
First thing Monday we are getting buy signals on the daily chart. A long way to go for a confirmation but it’s looking promising.This could potentially turn into a big reversal as we are hearing a lot of bearish sentiment around the kiwi.
Don’t forget to join us in Scan Club tonight at 7pm to build your hot-list for the week.
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