BaliShag

BaliShag

Dax has been acting rather harmonic lately and now we've got another Butterfly completed on the 4h, while a beautiful bullish Wolfe Wave is in play. I'm still expecting a much larger correction in the long term, but I think we could see a nice run from around here or the bigger daily AB=CB at the fake out in daily + weekly demand, before bears eventually takes...

BaliShag

I'm thinking it's quite possible we're gonna see a long torm top in this area, but for now we have a range set up with bullish harmonics pointing to it's lows. I will be watching this for clues to a possible higher time frame trend reversal.

BaliShag

A Cypher would fit the lines a bit better.. Lets see. Definitely an interesting area. Eyes was on it from the start: oi63.tinypic.com

BaliShag

Lots of lines coming in just above/around the bat. Just watching :)

BaliShag

Just a rough sketch with some areas/lines I'll be watching to complement eventual setups on the lower TF's. The time element will of course have a big influence. It's nice how the MA's seems to line up with these energy points.

BaliShag

Ideal AB=CD (precise 0.618 -> 1.618) (possible Bat a bit higher) to WW completion. Looking for a move down to the 59 area at least. Some great details about this Wolfe Wave: The 1-4 target line has the same slope as the blue downsloping fork. The 2-4 line exactly the same as the steepest upsloping black fork. The 1-3 line the same as the turquoise upsloping fork...

BaliShag

Just a nice little map to have for future reference. Gotta love these lines :)

BaliShag

Topped on shark, bounced on 5-0. Could we see a repeat the other way around? DOW 2h bull shark to bear 5-0: Nikkei daily has completed an ab=cd to wolfe wave 5. Just below is a nice butterfly:

BaliShag

Bullish bat completed. A close above EMA 8 or the trendline seems like a reasonable entry trigger. Alternatively a trade above last minor swing high. AB=CD, Gartley or Butterfly also possible below. Only looking to catch a bounce equal to the BC leg of this bat. NB. long term down trend! /edit: This 15 min bear bat might offer an opportunity to get in if it...

BaliShag

B didn't quite touch the .786, but it sure seems to be reaction to this level. A 1h close below the could confirm a pullback at least. DAX 30 min shark pattern: DOW testing the daily downsloping pitchfork top for the first time + the upsloping medianline:

BaliShag

Third bat in row now.. Judging from the move up here, I would't rate this one as high though. A failure here might point towards the bigger daily bat?

BaliShag

Two shark to 5-0 possibilities or a flat correction in a bigger AB=CD . Look for bullish lower TF setups for a ride to the largest shark if this smaller daily shark fails:

BaliShag

DAX overshot the downsloping pitchfork and turned at the 2.75 warning line at both the bottom and the top and is now returning to test the original upper median line from above. At the exact same level we got the completion of a bullish 5-0 pattern and a Shark. This should be a strong area of support.

BaliShag

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BaliShag

Down sloping median line Up sloping 2.0 warning line Long term trendline Old gap level Bullish bat 1.272 ABCD Several other fibs (not shown) All coming together at one precise level in time and price! I don't think the market will move down fast enough to reach it in time, but you never know. DAX is in the area of a big two tier channel / fork bottom. Blow out...

BaliShag

Bullish bat at weekly up sloping lower median line and a bigger monthly median line. Impressive monthly bear butterfly succes! Daily view with some minor support lines:

BaliShag

Big ab=cd ending right at bullish Shark completion. If this pattern is succesful, I would be looking for a 50% upwards retracement right to a bearish 5-0 pattern around the middle of the channel. Just something to watch for. It's tough terrain these days, who knows what'll happen!? The old bear bat:

BaliShag

Bullish butterfly completing right at the 1h shark/bat in a hopefully last 5th wave down.