They say never go against the trend, but it looks like a very strong resistance to break and maybe a chance to take some fresh aid before further raises.
What comes aroud that goes around.
500 points without retrace in Ger30 are possile since the last 4 day, but they are not real.
RSI D1 is over 80% now.
Next targets 12.909 if last wave elliot finisched on D1
If this don´t work, long to 16.-48.000 :D
Dax short possible based on trendchannel break long and RSI.
Possible targets shown on flags.
Possible retrace in Dow,US30 also expected.
Timeframe 1-2 weeks to complete.
Due to geopolitical Tension + Merkal face coalition Talks
and also wall street have not consodilate yet
so i expect a pull back on 2015 high with 2 target first for in total of 260 pips
inmore i see a bearish divergence in h4
enter at 12556 SL 12675 final target 12290
RR 1/2.45
In what should kick off a C Wave down in the Dax this move should also coincide with a move down in the Euro.
Support in theory should be around the area of the green dotted line but as always counting a complete 5 waves down should indicate the move is over.
In theory a stop should be at the major high above this current pullback.
