Sokow
Long

No sell in may this year

FX:GER30   DAX index of German listed shares
I believe that this year the saying "Sell in may and go away" won't work.
We can see a very complex and time consuming correction. It is an irregular correction where wave (b) tops wave (a) (in red). The structure is 3-3-5.
Wave (c) is unfolding and we can count 5 waves down. Wave 2 is very small and shallow. Wave 4 is again a complex correction. We should see a last wave 5 to complete wave (c) and after this wave is over we should see a strong impulse to 13000.
The target for wave (c) is 200% of wave (a).
The target for wave (5) is 50% or 61.8% of the distance of start of wave (1) to the endpoint of wave (3) added to the expected termination point of wave (4).
Impressive !!!

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Good job but the index drop to 11400 level again. I wonder whether there is support at 11000.
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Sokow PRO jimmy_hongkong
Yes i was surprised too ;)
Have a new labeling for you. Like always there is more than one scenario possible, but this fits my view at the moment.

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Sokow PRO jimmy_hongkong
Alternatively the diagonal is already complete and we started wave v of C of (c) of (4). This wave should unfold in 5 waves.
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Sokow, it seems there is a very strong pressure at 11800-900 level. Do you still look for 12000-100?
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jimmy_hongkong jimmy_hongkong
The Greek and Spanish index has dropped quite a lot today. Seems DAX will go down tomorrow. Is your target for long trade 12000+ still in play?
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Sokow PRO jimmy_hongkong
The target is still in play, but it gets lot more complicated than i thought.

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Many thanks, Mr Sokow. Hope the index is still in the uptrend and not falling too much tomorrow.
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Sokow PRO jimmy_hongkong
Alternative count:

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Sokow, It has dropped more than you expected yesterday, now it has fallen into the 0.5 support zone 11625. Have yo changed your mind for doing long trade to 12000+? I am afraid it would fall to 10800 area, what do you think?
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