I couldn't follow the position. It got stop out at 12041.
14:22 (GMT+1)
I try to play out another short setup. I'm not sure that the market is going to reach my TP because we are at the primary target zone.
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| m5-m15-h1 |
Closed my short at 12072.5. I'm gonna take a break now.
13:15(GMT+1)
Break even. Channel on 5 minutes charts must be broken for continuation.
13:00(GMT+1)
I'm trying to play out a short setup. Primary target zone is at 12030s.
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| m5-m15-h1 |
Aussie got stop at 0.7602
11:38(GMT+1)
The rally is really intense. I can only scalp this market and it's hard to post the position live. I had 2 long scalps: one was from 12058.5 to 12075.5 and the other was from1 2080 to 12103.
10:40(GMT+1)
I opened a short position in AUDUSD. Context will be uploaded later. I'm anticipating at least a wave 5 on the 4 hours time frame with a target zone below 0.7550s level.
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| m15-h1-h4 |
Examining the 4 hours and daily charts the reversal was nicely set up. Many correction channels were broken and tested today and the MA10/20 channel on the daily time frame also provided nice support again. If this will only be a part of a ranging correction I still think that wave [b] and [c] is missing and the this mornings' rally was at least a wave [ä].
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| m15-h1-d1 |
Resistance and the psychological level of 12000 is near, so I decided to take profit at 11995.5.
9:51 (GMT+1)
The DAX reached an ideal level for a correction, but the context of the bigger picture is still open. I'm following a complex correction pattern, because so far the index has shown 3 wave patterns. Nevertheless it doesn't mean that the rally cannot be an impulsive wave, namely and ending diagonal. Whatever the market will decide, this 2 interpretation should move in the same direction for a while. The channel drawn on m30 and h1 shows us that most likely a double zigzag pattern is finished and the market should rise higher even in case of a complex correction pattern on the daily time frame.
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| m5-m30-h1 |
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