Geert2000
Short

DaX correction

FX:GER30   DAX Index
112 2 4
Dax             in correction mode.
Wave 4 in progress.
First tgt             11500-11400 end next week.(wave a)
End pf             April 11000-11200(wave c)
From May on Dax             can rally again.Top this year around 13k             before July.
I think your count is the correct count. However, EW is backwards counting, so I keep an open mind ot other possabilities. The 12222 highs could have been the end of w3 of w5 extension. breakoing out to new highs next week would confirm this. If price can not break upper resistance and makes a lower low then w5 of w3 most likely ended at 12222 and a correction like your chart details could be the trajectory for the dax. Notes on chart
snapshot
Chart #2 if w3 ended at 12222
snapshot
Reply
Thx,interesting charts.
We are entering the final week of this month.Profit taking could be in play here,so a small correction to 11600-11400 (wave a) is a possibility.
We need these levels to BUY again for a rally to 13000.To buy the dips we need the dips first :)


+1 Reply
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