Dax ( GER 30 ) Near completion of wave 5 -- Correction Ahead !!

FX:GER30   DAX Index
Wave 5 is near completion at around 11450 in the coming next weeks. A Major correction might be on way till 8380 following a ABC wave correction !! Go short At the upper trendline resistance around 1 st             week of march with a clear stop loss would be weekly close above the trendline .
if this channel is valid, i expect some "euphoria" moment and the last innocence boy will be caught DIY :-)
Looks good. Why not add some ocillating indicators and look for a downward divergence as a tip off? I can usually see the smaller wave impulses in the oscillators better than I can in price. Nice chart!
AnbHfund chartmojo
sure would add indicators as well !!
So you think it is now the time to short DAX? Did you change your view?
AnbHfund jimmy_hongkong
No change in view, Since trading on weekly charts i would wait for next week closing 13 March to see how DAX goes from this point !! A 38.2 % extension level is around at 11900 another resistance but this 8 weeks rally will show profit booking and the trendline is a very strong resistance and with no positive surprises left, so lets wait & watch and for me its time to short it !! But yes you can wait for a weekly red candle to take a short on DAX !!
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