DAX follows Dow! This is an old saying, which is almost always true, BUT the counts can be different! Since 22nd of May, DAX is in "correction mode". It started with a clear impulse wave down to 12546 (below 0,382) as a "Subminuette"-wave a (grey) and now it is just about to finish an "abc"-pattern (magenta) to find the terminating "Subminuette"-wave b. A possible target could be tp2 and tp3. (tp2 equals 0,618 of wave a (grey). (tp3 equals 1,000 of wave a (magenta). Once, reached this level within a max. of 3 days, DAX has two options: 1: Complete the ZigZag down to 12291 (0,618 of wave 1 (red)) 2: Rise continues. This means, a recount would be neccessary: A possible candidate could be magenta "b" as a wave "2" (red) and DAX would already be in a "3" right now! So watch out very carefully, how DAX behaves on these tp levels!!!
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Watch DE30EUR on 1m:
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Further details on 15m:
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Like to make some additional remarks for option 2 of above (Rise continues and possible candidate): Magenta "b" at the right corner could def. not be a wave "2" (as shown as "or 2?" in the chart), because the preceeding pattern has an abc count (green)! Furthermore, I believe, that DAX is in a wave 3 atm, which prob. stops at 1,000 (12890) already, etc.
I think 13601 will hold. The push will finish soon and then down. End of wave 2 I think.
PHILOOS
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Final C of II target 13000-13250.
wolfah
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@PHILOOS, thx for your interest! This would be 1,000 of where this correction began (red 1). Woukd be a "Flat"-pattern then... Thx again!
fatboy007
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@wolfah, if you care to have a look at monthly you can see a vacuum until 9200 area , which ultimately provide reversal to up side top around 23k-25k max
fatboy007
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@wolfah, well in your interpretation is 2.618 area