Comment. was this the final overshooting today which triggeres the wedge?
DAX reached Action Point!
Dax reached the falling which is valid since 21.04.2016. For me, thats an Action Point where a desicion has to be made. An upcoming consolidation is thinkable at that Level (possible tp on the downside is - as always - the 38,2 fibo) , but not neccesary. The signs further up-potential in the - there is still a momentum - every dip was bought these days.
If DAX % could beat the midterm downtrend since April, the BIG Downtrend can be aimed!
Beating this longterm downtrend means a resumption of the maitrend - a Long Lasting bullmarket since 2008.
Dear followers! I Need some comments or other ideas ! I Analyse the market for YOU
Little Consolidation ahead?
Dax is trading near it`s upperedge of the blue counted uptrend. Perhaps at that Level Dax will make a Little break on it`s main way up to 10.400
New midterm-longsignal above 9775
red vs. green counting..in my Chart i have illustrated the present resistance and support zones.
If Dax could overcome the resistance @ 9775 , a shortterm longsignal with tp @ 9.950 appears. The following TP could be 10.350.
Above 10.350-10.450 the midterm downtrend will break - that will generate midterm/longterm Targets @ 11.300/11.750/12.300
Above 12.350 there would be a BIG LONGSIGNAL --> TP 13.700!
If Dax is trading below the last green "3" respective the last red "2" i exspect a sellof with tp @ 7.250.
I will start going long in the 10000 range. I will continuously add. Even if we go into 9900, no issue.
I see it going to 10700-10800 easily.
Do you feel there will be a retracement till 10240/60 (as I want to short more)
Your views would be appreciated.