hello traders
this is my point of view for DAX30 in 1 hour time frame :
price is actually constructing subwave 2 of a bullish wave 3. but i don't know if this correction touch it's end or not : it's possible that wave 3 of this correction wave is finished because 61.8% fibonacci expansion is a potential level for a "running flat" (but price just reach the 23.6% fibonacci retracement of the "big" subwave 1 of wave 3, witch is not conventionnal).
another possibility is that this subwave C could reach the fibonacci cluster arround 11160 points (cluster of 38.2% retracement & the 161.8% expansionof subwave A). morevover, this price is corresponding to the cross between the "big" Elliot Channel & the corrective one. furthermore my Long term moving average seems to go next of this potential future cross.
but... according to my RSI , & the fact that Bollinger Band are squeezing in the usual timeframe, and that my "strategic boolinger bands" are expanding (phase 3), i think that price could extract the corrective channel soon (why not with a bullish gap at monday's openning)
this is my point of view for DAX30 in 1 hour time frame :
price is actually constructing subwave 2 of a bullish wave 3. but i don't know if this correction touch it's end or not : it's possible that wave 3 of this correction wave is finished because 61.8% fibonacci expansion is a potential level for a "running flat" (but price just reach the 23.6% fibonacci retracement of the "big" subwave 1 of wave 3, witch is not conventionnal).
another possibility is that this subwave C could reach the fibonacci cluster arround 11160 points (cluster of 38.2% retracement & the 161.8% expansionof subwave A). morevover, this price is corresponding to the cross between the "big" Elliot Channel & the corrective one. furthermore my Long term moving average seems to go next of this potential future cross.
but... according to my RSI , & the fact that Bollinger Band are squeezing in the usual timeframe, and that my "strategic boolinger bands" are expanding (phase 3), i think that price could extract the corrective channel soon (why not with a bullish gap at monday's openning)