The DAX high of 13'601 came down to 10'281 (3'320 pips). Then it went up to11'390 , retraced just off 50% which likely means that it will go up to 11'940 or thereabouts. That level also happens to be 50% retracement of the down from 13'601 to 10'281 which leads me to think that we can expect a strong fall to 8'620 or thereabouts.
Those that have followed my...
T1 = 12950
T2 = 12390
T3 = 11890
This is based on the assumption that wave 5 has come to an end and that we've entered a correction wave. Would be happy to hear from people that know a lot more than me about EW.
Notice the wick on the candle of the 16th of March.... which leads me to make a comparison to movement from January 16th through to February 7th.
Therefore short term short and then long towards 12400 and beyond.
As always, please trade your own plan. Make sure your stops are in!
DAX is still decidedly bullish and for Monday I expect DAX to retrace to 50-61.8% for it then to resume its journey North.
Thus short to TP1 11940 and TP2 11902 followed by going long to TP1 12144 and TP2 12199.
This is purely speculation of course, as it always is.
This is my idea for February...
Short to 10984, then up to 12,453/12800. Please note that I haven't considered the timeframe too carefully, just the vertical movement.
Again, this is just my idea and I urge you to trade your very own plan.
Good luck to you all.
This is what I am thinking right now: A retest of today's high at 11892. It may shoot up from there. I expect it to retrace where 50% level becomes critical as if it reverses at that point, we're likely to see 12015 (scenario A) or it retraces further down to 61.8% for an up to around 11865 followed by a sharpish down towards 11557 - 11479 (scenario B).
DAX retraced six pips over the 61.8% of the down from 11695 to 11493 at 11622 and I expect it to go down to around the 11541 area before a sharp up.
TP 1 = 11724
TP 2 = 11778
As always, please trade your own plan! I'd say that this one has a 65% chance of becoming reality.
Whatever you do, good luck!
TP1 = 11284
TP2 = 11521
TP3 = 11861
My views are based on Fibonacci, supported by Line A & B. However, this prediction isn't going to be reached in a straight line and particularly the news just after midday on Friday about Italian Bank Monte dei Paschi may cause a lot of volatility during this coming week. The US Federal Reserve is widely expect ted to increase...