Dax Daily by robinho

[Splitlink]

I'm going to call you Rob.

Put it down to my eyes not being what they used to be but I find your charts just that little bit too difficult to read. Any chance of increasing the size at your end?

 

[r0b1nh0pkr]

good morning. now its time to short at 9733 no SL, if we get a 15min close with confirmation over the 9733, i´m out

 

[r0b1nh0pkr]

the Dax is at the end of my target area 1 and the c8 has reached 100% of the a8. This is a very good moment to place a short

 

[r0b1nh0pkr]

for having success with the short trades, we need a close under the red line (9719). this could confirm the analysis.

 

[r0b1nh0pkr]

 

[r0b1nh0pkr]

The patterns since that high at 9733 seems to be corrective, what means, we need at least one more high. I placed a stopbuy at 9733 and stay calm with my short, because the corrective patterns are only visible in the 1min chart in which i do not like to trust so much.
In fact, it could be more difficult today than in the past days. take care and i´ll update you if i switch to long

confirmation for short stays at 9679, this line is very important! every long should place their stop here

 

[r0b1nh0pkr]

I´ll show you what i mean. This one could be an option too, then we have a wave green 5 that expands as hell and we could move straight to the target area 2

 

[r0b1nh0pkr]

9725 long no SL

 

[r0b1nh0pkr]

and there it is...the reason why i hate this 1min chart
but in fact, the patterns were corrective, so i´ll stay with my long with stop 9679 and a stop-entry placed at this area. I´m out for a while

 

[r0b1nh0pkr]

I´m pretty sure to know what happens next. I´m flat at 9710 and try a long when the d is finished

 

[r0b1nh0pkr]

 

[r0b1nh0pkr]

short 9707 SL 9726 TP 9662

 

[r0b1nh0pkr]

and out at 9703, looks like the green b is not finished yet

 

[r0b1nh0pkr]

short 9718

SL 9726 TP 9662 as seen above

 

[r0b1nh0pkr]

looks like the b want to go in another round

 

[r0b1nh0pkr]

green b should be finished now. Im still short.
In the elliott-wave theory, it is always the most complicated part to trade a wave b or wave 4 live. There are unbelievable many combinations possible. Next time, when i know that there is a b or wave 4 running, i´ll switch to my breakout system until the b is definiately over.

 

[royguo]

Shot at 9720

 

[r0b1nh0pkr]

Shot at 9720

good luck

Possibly we still need to wait for a down move. Today is honestly one of the most complicated days in the past weeks. Maybe flat is the best option right now.

 

[r0b1nh0pkr]

the b8 is still running, the triangle still possible.
What we know is, that my shorts were made too early. A short in the middle of a possible triangle is not the best idea anyway. I always say i´m looking for big moves and thats not what i´ve done yesterday.
What you need to know is, that corrective patterns are always difficult to trade. In these cases, trust another method then elliott waves, or try to trade an upper cycle. These both are good decisions, but chasing the end of b8 might be not.
But i can say to all shorties, the up waves are all corrective, there is no impuls, even in the 1min chart. So, i expect that the b8 is still running and the triangle is still my main option with a c8 following with targets around 9660.
Another thing i need to point out now is, that this could be an expanded flat. That means, a wave b has the possibility to raise up to 161,8% of the wave a. This point must be the MoB for the shorties. The MoB is at 9764. Put your stops here!
So guys, it will be still difficult today, maybe it is the best to stay out and catch the next 200 point move.

 

[royguo]

Got to agreed with u. Great chart for discussion ... exited at 9708