Trading news

EOAN – Have we seen the bottom?

Weekly chart:
This German value has a long, long downtrend behind it, having come down from around € 50.-. In the medium trend size we are in the sixth movement arm, and it seems as though the price has found a bottom at € 7.-. The currently visible correction move has the potential to run up into the red correction zone.

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Daily chart:
In this trend size we see evidence of a bottom formation at approximately € 7.-. The last downwards movement led the price down to €7.05, where it then corrected up into the red correction zone but was subsequently unable to continue the trend. On its way to the last point two, more than one attempt was interrupted and we now see an increasing price. In this case, we have to be careful with short trades.
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Hourly chart:
In this tradable trend size, the chart is offering us several trading chances. The current low in this downtrend lies at €7.82 and the correction zone runs between €8.95 and €9.71 on the upper side. The price has arrived in the correction zone at this time, and our DowHow signals are occurring. For a short trade it is slightly too early, because the current upward move is very strong. Have patience for a while, because the next DowHow signals are bound to occur.
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I hope you will remain favorably disposed towards me and always remember: the journey is the reward!

All the best

Markus Gabel

Trader asset management

office@gabel-trading.com

AgenaTrader Trading Software

IMPORTANT NOTE: Exchange transactions are associated with significant risks. Those who trade on the financial and commodity markets must familiarize themselves with these risks. Possible analyses, techniques and methods presented here are not an invitation to trade on the financial and commodity markets. They serve only for illustration, further education, and information purposes, and do not constitute investment advice or personal recommendations in any way. They are intended only to facilitate the customer's investment decision, and do not replace the advice of an investor or specific investment advice. The customer trades completely at his or her own risk. Please refer to the current version of the Terms and Conditions.

Tuesday, 19 Apr, 2016 / 11:37

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