merakshi

DAX 15m analysis to catch the next retracement level

Short
EUREX:FDAX1!   DAX FUTURES
hi All,

Yesterday I catched the DAX right at the top ! How I came to that analysis based on Elliott waves / Fibonacci I will explain in a tutorial.
Now wave (1) is finished and I am looking for the next retracement level.
The first retracement is the level where the triangle appeared. I expect that this level will be exceeded so I assume the retracement will go up until 12643 in wave (2) to start another fall.

I will keep you posted in that thread.

Cheers,
Merakshi.

Comments

double top. Confirmation level reached.
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@merakshi, have you got a downward target in mind? 11590 is my first target? do you think it will continue lower? mind you i may keep one runner long term anyway

also, absolutely spot on analysis so far on DAX, thanks for confirming my thinking so far
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Weekness at the 2nd resistance level. Trendline broken. Watch out for more downward price action.



Cheers, Merakshi
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