there has been happening a lot since my last DAX30 analysis eleven days ago. I have closed my short positions with some profits and kept quite until the beginning of this week, waiting to bring my long trades into the race.
If you remember, I revised my initial expectation from 'call' to 'put' as I expected the correction not be finished - or better, it was just about to start. The situation changed a bit which meant the (blue) 4 wasn't complete at this stage and had to be fully developed before we could look at any DAX30 long ideas.
The Question Now Is
Was this correction enough to complete the (blue) 4? There is a good chance that this is the case as the ( ) fits perfectly - and so do the indicators. But, there is still enough room for the DAX30 to correct. If you remember, I was initially talking about the area around 11,500.
It's A Matter Of Sink Or Swim
To put it in a nutshell, the German DAX30 has a perfect chance to take it from here, marching up, direction 13,000. However, if the latest (yellow) 1 gets touched (~ 11,803) the scenario is off the table - for now. Everything above that is perfectly fine.
In terms of trading this is a no-brainer. The chance/risk ratio is outstanding, if you are looking for 11,800 as a potential SL and 13,200 for a target.
I take the risk and give it a shot. Therefore I have opened a long position in all my public and private accounts.