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 :-)
chartmojo
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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
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sure would add indicators as well !!
jimmy_hongkong
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So you think it is now the time to short DAX? Did you change your view?
AnbHfund
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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 !!