One of my current clients is a big trader of the German DAX so i find myself looking at this index on almost a daily basis. The more I look at it, the more I enjoy breaking it down as it seems to be a pretty technical friendly chart.
When taking a look at it today in my Live Trading Room we noticed a few things. The obvious structure level looking left, the potential butterfly pattern completion at that structure level and a large area of confluence between numerous Fibonacci extensions and inversions. We've also got some AB=CD action thrown in there as well. Yes there's an even bigger potential butterfly that could be setting up on the higher timeframes. But there's no need to worry about that until structure is broken.
Akil
When taking a look at it today in my Live Trading Room we noticed a few things. The obvious structure level looking left, the potential butterfly pattern completion at that structure level and a large area of confluence between numerous Fibonacci extensions and inversions. We've also got some AB=CD action thrown in there as well. Yes there's an even bigger potential butterfly that could be setting up on the higher timeframes. But there's no need to worry about that until structure is broken.
Akil
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