Weekly review of NIKKEY, DAX, Silver | 12 June 2015

NIKKEY

Monthly chart: An abrupt upward swing is keeping on. Our tactics can be search of a reliable signal for sales as well new purchases from below once downward signal and Price Action long signals are received.

Weekly chart: Bulls' inside bar has been received which speaks for Northern determination of current movement. Of course, we wish a slight shift down to buy with as profitable Stop Loss as possible. There is a probability of growth, but I would not buy from current levels.

Day chart: four days at a run bears have been trying to provoke correction but were beaten by bulls which can be seen by false breakdowns of inside bar.

Scenarios: so, there is a probability of growth but monthly swing is to big that we are perplexed with a choice of target (buying without a specific target is not to get a correct risk-profit ratio) So, with a risk to miss growth, I recommend to wait a possible shift down.

Trading decisions:

1) Wait for a downward movement and buy using a new Price action signal. We've already got this signal but there is an uncreased risk. Choice is up to you.

DAX30

Monthly chart: bears started forming a downward swing and we can expect one more local Low. The best possible correction - to 10060. From this point, we can buy again either trace signals for purchase.

Weekly chart: we have received a new Low formed by beginning of a new downward swing. It is a really good signal to continue movement which finds a place in a general scenario of correction to 10060.4-10102.5

Day chart: Two crossings of swing bottoms at a run, so, we have received a full local descending trend. Upon that, an ascending swing to the area 11639.7 can be formed. Then we will wait a further descending to 10060.4-10102.5

Scenarios: decline to 10060.4-10120.5 and then a new wave of growth.

Trading decisions:

1) We shall sell from the area 11639.7 to 10060.4-10120.5

2) We shall make purchases from the area 10060.4-10120.5 to new Highs on weekly and monthly charts.

Silver

Monthly chart: swing for a pullback has been formed and we witness a concentration of bearish inside bars. That is to say, both swings and price action signals speak for a further decline.

Weekly chart: In terms of a local view, ascending structure dominates: there are two upward crossings, then an attempt of a breakdown followed by breakup. Now the question is who will make a breakthrough – bulls or bears? Two equally possible plans.

Day chart: there is a downward crossing of bottom, then the end of descending swing (shaped as the pinbar). Therefore, we have a good chance to earn on growth of silver: such growth finds its place in the plan of decline and is seen in a possible attempt of bulls to achieve new Highs. Two scenarios have a common short phase which we can avail from.

I would not wait the price above 17 and would sell from there. But movement above 17.16 can lead to a strong ascending swing. So, sales from 17.00 have a clear limit.

Scenarios: growth from current levels to the area 17.00 and a drop to new Lows (below 15.52)

Trading decisions:

1) Purchases from current levels to 17.00

2) Sales from 17.00 to 15.50 with Stop established at the point 17.25.