From february to march the german index ahd been in a diamond pattern and broke out to the bottom.
Will it repeat the same pattern this time?
I´ve drawn two possibilities for the next days.
Green:
DAX will rise to fib retracement 78.6% (12.614) and break out to the top. This could be a motive wave in EW-theory.
Red:
DAX breaks out of the diamond to the bottom with such momentum that it could even reach the long ascending trend line (dotted).
If DAX continues to fall from this level one cannot expect the forming of a diamond pattern.
Will it repeat the same pattern this time?
I´ve drawn two possibilities for the next days.
Green:
DAX will rise to fib retracement 78.6% (12.614) and break out to the top. This could be a motive wave in EW-theory.
Red:
DAX breaks out of the diamond to the bottom with such momentum that it could even reach the long ascending trend line (dotted).
If DAX continues to fall from this level one cannot expect the forming of a diamond pattern.
Comment:
Comment:
A strange diamond, indeed. nevertheless - the turning level at about 12.280 has been confirmed and DAX is actually on its way up.