alx13
Short

Dax - 4th wave bounce finally over?

FX:GER30   The DAX Index
The reaction post FED was a bit unexpected, at least for me. All indices ramped up ( dax             not so much actually) and then reversed with conviction.

The big question now is - what's next? Is this choppy 4th wave finally over? A look at the daily provides some clues. The peak of the bounce was just above the 50% Fib retrace, while the decline from there looks like only 3 waves so far. If this decline turns impulsive (5 waves) then we will be able to say with more certainty that the 4th might be over. If not - it could be yet another a-b-c before a new thrust to the upper end of the range.

The first wave down from the peak of the bounce sits at 10074. If that is not overlapped by the next bounce - the 4th is over.

The good news going forward is - the DAX             tools from mcm pointed out this crash extremely well. They showed impulses down on all time frames starting in the area 10100-10200. Actually this is what they were designed for - to help navigate a coming bear market. Which seems to be here already. For any questions on that please email me at alex@mcm-ct.com..

Good luck out there!
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