FX:GER30   DAX index of German listed shares
The triangle I highlighted yesterday played out. The DAX             rallied, came within 10 points of the upper trend line and then retreated a bit. The retreat of wave e of the triangle was very small, it undershot the lower TL by a lot, but that can happen.

Now that we have the triangle break-out, the direction is up. We need to complete a 5 wave impulse to finish the C wave of this (presumed) 4th wave - a-b-c bounce.

The line at 11.022 is where wave 1 of the correction is, so if we overlap that it either means a bear nest or something more bullish . I do not expect the said overlap though.

For traders, there is great news coming from mcm.

They have developed short-term trading tools also for dax             (previously had only for s&p             and dow). This is a major deal as these tools provide a great edge especially in this very stressed environment.

I started a cooperation with them on that regard, so if you have any questions about the tools or are potentially interested in how they work please contact me anytime at alex@mcm-ct.com..

Good luck to your trading!
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out