Sokow
Long

Correction nearly over, higher prices to come

FX:GER30   DAX index of German listed shares
That was a big move down on friday.
We should see a little move upwards (wave 4 in red) and the last impulse down which will complete wave 5 in wave (c) in wave (4).
On the right side you see the previous minor wave count (1-5) and the DAX             should find support near 11400 which is also the 161.8% of wave (a) (in red).
If the correction finishes at 11400 we should see a last big impulse (in 5 waves) upwards to the last target between 12500 and 12600 which is the 38.2% fibo from starting point of wave (1) to the termination point of wave (3).
This target should be reached at the beginning of may, and we should see another big correction.
Always keep in mind: Sell in may and go away ;-)

I wish you the best trades and a good week!

Further information:
The ECB continues with its QE             program so we have a lot of cheap money in the market, this also supports the idea of a new all time high in all indices .
Sokow PRO
2 years ago
The correction seems to get bigger than expected.
I've updated the Chart, now we have a fibo retracement from wave 3 (in red) in place. Possible target for the retracment is 38.2%.
Stay tuned for the updates!

snapshot
Reply
Sokow PRO
2 years ago
Update!

Looks like the correction is over. We have an ending diagonal and a truncated wave 5.

snapshot
Reply
jimmy_hongkong
2 years ago
Bro, any new posts and ideas for DAX? :(
Reply
Sokow PRO jimmy_hongkong
2 years ago
snapshot


Hope that the correction is now complete. I think that it is definitely complex enough ;)
+1 Reply
Sokow PRO jimmy_hongkong
2 years ago
As always .. its possible to get a little lower.
+1 Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out