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Thursday, 19 November 2015

DAX H4 Analysis









General overview for 19/11/2015:

There is still much confusion on lower time frames and one of my counts still points out a possible new all time high on this index. Nevertheless, the current wave progression on lower time frame looks like a typical five waves impulsive structure that is almost completed. There is one more push higher needed to terminate the structure, possibly filling the gap between the levels of 11195 - 11275 and corrective cycle lower would be anticipated then.

Support/Resistance:
11195 - 11275 - GAP
11195 - WR3
11095 - WR2
10795 - Weekly Pivot

Trading recommendations:
Sell limit orders should be placed in the gap zone with tight SL and TP at the level of 10500.


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