Tuesday, April 28, 2015

dax - 28/04/2015

12:57 (GMT+1)
TP was hit. Now it's wait and see for me...So far the channel shown on the 15 minutes chart held the drop in a parallel channel.
DAX: m5 - m15 - h1 charts

12:34 (GMT+1)
It looks like the price action couldn't form a decent impulsive wave. The minimum target was reached more like in a 3 wave pattern, although I cannot rule out the possibility that the index is just gathering some more strength in a [i]-[ii]-(i)-(ii) pattern. The momentum on the 4 hours chart hit the bearish support zone and couldn't reach the bullish territory, while the RSI on the 1 hour is about the form a bearish cross. The channel shown on the 15 minutes chart must break to confirm at least a correction of yesterday's price action.
DAX: m15 - h1 - h4 charts

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