I think wave (3) is still to be completed i.e. somewhere around your (5). WIth a 4H setting it may come out clearer.
madsroland
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Agree, I also just made a new chart. I think the wave is complete. Yesterday I was a bit too quick to announce the reversal.
madsroland
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AndersE
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Don't know how to a drop a graph in the comment field . too new to this.. - but see link instead.
I believe DAX has now completed wave 3, not 5, and are in corrective wave 4. Possible to a 38.2% retracement..? around 10700 area (or lower). This 1-5 "small waves" are wave 1 in the bigger and final wave 5 going "to the top"before a major ABC correction will take place. Would you agree?