Dax is still in corrective mode.
Bullish Cypher finnished.
Bearish gartley is about to finnish its last leg up.
This last leg up will be done in 5 waves.
The 5th wave could end around 12080.The 4th wave has still some room to end at 11300 (if it not ended already).
The black arrow down around 10800 is the target during final last week of June.That would be a14% coorection from previous high.If we count 1850 points up from 10800,12650 will be next bullish target.The high for this year.
Trade setup : Long till 12k than short till 10800.
Note : Greece IMF payment can be delayed to end of June (a new deadline) Another tumoil in the markets at that time.Also, US markets didnt start a correction yet,could also be in play sometime in June.
Beside the news,technicals show a further decline in the short term.
Bullish Cypher finnished.
Bearish gartley is about to finnish its last leg up.
This last leg up will be done in 5 waves.
The 5th wave could end around 12080.The 4th wave has still some room to end at 11300 (if it not ended already).
The black arrow down around 10800 is the target during final last week of June.That would be a14% coorection from previous high.If we count 1850 points up from 10800,12650 will be next bullish target.The high for this year.
Trade setup : Long till 12k than short till 10800.
Note : Greece IMF payment can be delayed to end of June (a new deadline) Another tumoil in the markets at that time.Also, US markets didnt start a correction yet,could also be in play sometime in June.
Beside the news,technicals show a further decline in the short term.