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).
Target hit !!!

Think that the correction is over! Time to go long ...
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I have an alternative labeling for you. Looks like we started a new impulse move up and we could see higher prices.

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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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Sokow PRO jimmy_hongkong
Sorry for the delayed reply.

GER30 is a mess! But i think that we have finished wave (4) in area of previous 4th wave and now starting either a leading diagonal or an ending diagonal. We have to wait for confirmation.
Invalidation level is the start of wave i.
If it is an ending diagonal we should see a massive decline in June.

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Thanks for your reply. I've opened some long positions at 11885.5 Hopefully it can continue wave (v) at 12020.
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Sokow PRO jimmy_hongkong
Its also possible that wave iv isnt complete yet, so it could fall a bit to complete wave iv and then start wave v.
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I am getting headache and cannot sleep well after doing the long position at an embarrassing level :( Wave v is going up to 12020, right?
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Sokow PRO jimmy_hongkong
Wave v can also be very small but i should have 3 subwaves and should at least reach previous iii. Wish you the best ;)
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Thank you bro. All the best to you too.
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Sokow, It's so terrible now...
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Sokow PRO jimmy_hongkong
Like I said ... wave iv isnt over yet
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Sokow PRO jimmy_hongkong
But I agree with you it's really frustrating to see this up and down ...
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Sokow PRO jimmy_hongkong
Looks like iv is complete :)

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I hope so, bro. DAX is quite difficult to play, when comparing with Dow Jones and other indices. Please keep me update of your view and thoughts of DAX. Thank you and good luck to you too.
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Sokow PRO jimmy_hongkong
Hopefully the 11k will give good support.

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Sokow PRO jimmy_hongkong
Hey Jimmy,

now it looks like we bottomed :-)

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Hi Bro Sokow, I was trying to upload a diagram here to share with u but not success :( I guess if DAX cannot break the top of the downtrend line i.e. 11150, it will still go down. What do you think? :) Hope it can break through and go up...
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Sokow PRO jimmy_hongkong
Just for you my friend:

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Thank you very much bro Sokow, Eliot specialist! Hope we have bottomed and I can break-even finally...Your chart is very professional and make sense.
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