it's getting really interesting now. The DAX30 processed all targets within the correction as expected and even made it to the max. extend, which I mentioned in one of my earlier analysis when the correction started. So no surprise here.
What was a bit surprising though was that the market participants didn't take the chance to buy full whack, yet. There was a faltering try during the week (last time I posted an analysis) which got battered just the second it actually started to move up.
Bears had better be forearmed
This correction, which is currently developing the (blue) 4 will come to an end sooner than later. The question is not if but when. So bears had better be forearmed because these bulls waiting at the sideline will come in furious. Don't forget, the overlaying trend is strong .
What will be helpful and kickstart the race towards 13,200 is a weak EURO . As I mentioned earlier today in my EUR/USD analysis we are just about to complete the correction there as well, which actually matches perfectly with the upcoming DAX30 scenario.
I have one small long position already running and the next load just waiting to get into the race.
The euro could retest this years lows or even make a slightly lower low, but I am thinking it could make a run towards 1.19 this summer before resuming its correction? I could be 100% wrong!