Have played a while with channel scale, log and linear, in the end i using them both.
Log for longterm, here from 1991, anchors from daily chart are in green circles.
Significant for current status is 76.4 parallel. It is marking the top in 2007 and also recent top. Have plotted also ew projections for terminal W5 waves of last uptrends. Other fib parallels give significant intersections too.
Linear picture is used in FDAX future.
There are same intermediate red trendlines in last two uptrends. They both have been crossed upwards for throw-over, at close of such crosses i have plotted support lines - bold red. In current leg, the corresponding support is located at 10805.
DAX is holding weekly ema34 (200dma) for now. However, there is a chance, that ew count of last leg is complete (target 12229/12238 has been hit). In that case and because of similarity of current structure with 2007 (rather than 1998/2000) i am tending to asses current uptrend as finished, more probable than corrective W4 running.
Bounce from dma200 (if coming with regard to Greece) should form the wave B or X upwards, where new ATH can be achieved or not. If analogy with 2007 will take place, then 10800 should hold. Then, after couple months, cross of 10800 (together with weekly ema34 and ema13/ema34 cross) would bring longterm descent.
Another signs confirming that top has been reached could be breach of uptrend channels in NYA, DOWT or others...
Log for longterm, here from 1991, anchors from daily chart are in green circles.
Significant for current status is 76.4 parallel. It is marking the top in 2007 and also recent top. Have plotted also ew projections for terminal W5 waves of last uptrends. Other fib parallels give significant intersections too.
Linear picture is used in FDAX future.
There are same intermediate red trendlines in last two uptrends. They both have been crossed upwards for throw-over, at close of such crosses i have plotted support lines - bold red. In current leg, the corresponding support is located at 10805.
DAX is holding weekly ema34 (200dma) for now. However, there is a chance, that ew count of last leg is complete (target 12229/12238 has been hit). In that case and because of similarity of current structure with 2007 (rather than 1998/2000) i am tending to asses current uptrend as finished, more probable than corrective W4 running.
Bounce from dma200 (if coming with regard to Greece) should form the wave B or X upwards, where new ATH can be achieved or not. If analogy with 2007 will take place, then 10800 should hold. Then, after couple months, cross of 10800 (together with weekly ema34 and ema13/ema34 cross) would bring longterm descent.
Another signs confirming that top has been reached could be breach of uptrend channels in NYA, DOWT or others...