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 bullish.
Bottom Line 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.
I also agree wight he correction. Do you think we can get a proper correction this week? If so, what base are we look at? I currently have 11K.
Dluginacci
⋅
Yes, 11,000/200 is a first target - below that it could go much lower. However, 11k-ish makes sense, looking at the EUR/USD scenario. Cheers
tricat
⋅
how come you are now shorting it?
Dluginacci
⋅
Hi, please check my Facebook and/or Google+ page for the latest updates in terms of this analysis. Cheers!
RiccardoAnnoni
⋅
I don't know if it possible, but I agree 101% with your analisys. :-)
Dluginacci
⋅
Possible or realistic ;) Cheers!
elp
⋅
Most likely you are correct the Dax is setting up for a W5. Big question is when? I wouldn't be surprised if the Dax grinded sideways longer than expected making a more complex correction.
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!
Dluginacci
⋅
Yes, as I said, there's a realistic chance that the correction in the DAX30 turns out to be way more complex as expected. It definitely should extend a bit from here as the EUR/USD is not finished yet on teh upside. Cheers!
Pashabxl
⋅
Well to confort your study I can say that you way have underline that the eventual Kumo Twist if very narrow, the lagging span orientation show that there is still a lot of room to penetrate that Kumo Cloud which shows that this is rather a correction more than a change of trend and that finally, even if 3 Candles penetrate the cloud, the third one is rather small comparing to the others. Therefore, there is a great potention of an upside.