Sokow
Long

Correction nearly over, higher prices to come

FX:GER30   DAX Index
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.
Bro, any new posts and ideas for DAX? :(
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Sokow jimmy_hongkong


Hope that the correction is now complete. I think that it is definitely complex enough ;)
+1 Reply
Sokow jimmy_hongkong
As always .. its possible to get a little lower.
+1 Reply
Update!

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

Reply
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!

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