I want to present you my newest idea for the upcomming movement at GER30 Index.
The first wave started with an Island GAP which got closed fastly. This Island GAP sent me the first signal. After a long first wave (625 points) the market recovered to the 50% Fibo almost perfectly. This area is the same level where we had the first GAP-level from the Island GAP. Random? I dont think so.
After the recovery the market used the power from the 12190 support where probably a lot of new buyers came in who pushed the market to the 12450 level again. With beating the 12400 resistance we now have a strong support below.
Since the 3rd wave is always the strongest, longest and most attractive (for traders) wave i expect to see a target at around 12840. This would be the 161,8% extension. After this long move there should be the second and last recovery wave which could run to the 12600 support which is a strong . At this place buyers could find a new entry to trade the fifth and last wave at least.
The fifth wave is always the weakest wave thats caused by a possible end of the uptrend. Its the first signal for an upcomming big recovery. If its all running perfectly the fifth wave could find its end at the magic number: 13000!
This is for sure a perfect picture of a upcomming movement but its feasible. I am looking forward to the next weeks :)