Please use XETRA for this analysis for active trading hours only.
In this analysis we are looking at a radius vector rotating about the pivot O and creating three magnitudes OA, OB and OC in successive geometric ratios of PHI. OA = 1272.85 pts / 72 hrs = 146.24 units OB = 1228.17 pts / 198 hrs = 232.99 units OC = 658.41 pts / 374 hrs = 379.751 units (price scale = Price * 1/10)
Current active support is the 374 hours low from the pivot defining the 379.751 magnitude. The range for the containment perimeter is a 128.8 X 288 rectangle being 1 X 2.236 Median line = 15646.19 level
For price to reach the 0.382 level (15494.206) of the containment range it has to beat the 374 hours low at 15629.86. A sustained price action below this level will see further fall in DAX medium term trend. Use reasonable stop, trade with care.
nice one bro. please if i got you right, you mean the 374 hours at 15629 should hold but should price break through, price is expected to reach the 0.382? or should price reach 0.382 level, we will see a further fall in dax medium term trend?
Platinum-Markets
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@Osei-Wusu, The 3 points A, B, C are the nodes in each turn of the radius of the circles defining the energy levels, by the 3 turns rule (which you know already), the spiral ends at C. The low at C becomes the origin of a new cycle, for a down-trending price action point C is the pivot and price must stay below it. For an up trending action with offset, price should touch the 0.618 level and rebound. Note also that in weekly TF DAX is in a bear cycle and can sustain a down-trending action back to the base.
Osei-Wusu
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@Platinum14, perfect explanation. So end of growth actually ended at C on, hence C can serve as support or resistance depending on the direction. However weekly analysis shows its bearish. Makes sense waaa. I want to be like you when I grow up😭❤️
Platinum-Markets
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@Osei-Wusu, So should 15629 break (which is already broken), next support is the 0.382 level. Below the 0.382 level we look for the 0.293 as the next support or back to the base. Personally I think the base will break as well on weekly TF