Weekly review: Silver, NIKKEI, DAX | 31 July 2015

NIKKEI

Monthly chart: Here is a strong counter-attack of bulls against the first downward crossing, to which bears tried to respond by a downward swing. Sellers have sharply one week to modify a terrible July bar.

Weekly review: Silver, NIKKEI, DAX

Weekly chart: as we see, a bearish pattern O&U is in the process and that will remain relevant until it touches the resistance 20969.

Weekly review: Silver, NIKKEI, DAX

Day chart: O&U is detailed. As you can see, the situation is not hopeless. The target of the bears is clearly a breakdown of the last bottom (19099))

Weekly review: Silver, NIKKEI, DAX

Scenarious: Now we are waiting for a drop in the direction of 19099.

Solutions:

1) We hold sales with the targets based under 19099.

DAX30

Monthly chart: it is the rising phase of an ascending swing, which target is the breakdown of the last top (12426.1)

Weekly review: Silver, NIKKEI, DAX

Weekly chart: as we see, it offers bears a very good chance for a full reversal, for which they now need to break the last bottom (10648.1). The past week was closed by a brutal inside bar at the end of an ascending swing.

Weekly review: Silver, NIKKEI, DAX

Day chart as we see, the situation can be interpreted in two ways — the next before the last bottom (10798.7) offers the entrance based on a possible O&U pattern , but the structure may be represented by an expanding triangle as well. In the last case, we will have to wait when the price would leave under 10648.1.

Weekly review: Silver, NIKKEI, DAX

Scenarious: falling to 10798.7.

Solutions:

1) Keep a Sell trade open to 10798.7

2) On 10798.7 we shall buy within the frames of daily O&U, or wait for a confirmation of long signal.

Silver

Monthly chart: Silver continues falling. A chance for bulls is to arrange a double bottom. In order to have this scenario implemented, we need to wait until the July bar is closed.

Weekly review: Silver, NIKKEI, DAX

Weekly chart: an unsuccessful attempt to break down the inside bar - just a chance for buyers.

Weekly review: Silver, NIKKEI, DAX

Day chart: 5 consecutive false breakdowns of the last bottom, plus an impressive pinbar - as arguments of bulls.

Weekly review: Silver, NIKKEI, DAX

Scenarious: So, this week, we are waiting for recovery of silver to 15.50

Solutions:

1) We shall buy from the area of 50% pin (14.50) to 15.50 with Stop orders set under the pin (14.36)

Aleksey Panasenko
FreshForex Analyst
Agree with the review?
Traders' opinion:

Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .