This study shows what are my projections for the german index. Still to early too jump into short but certainly not buying anything here as we have a nice reversal on top of the H2 timeframe. Price are probably just pulling back to form Elliott wave 2 point and head to the big wave 3 that should be the extended wave of the bear impulse that I expect the prices to...
Just as the DOW count revealed, the DAX 0.76% may be creating an ending diagonal formation on fifth and final wave of the current count that started upon Trump's election and fueled the price without a single retracement (as 2 & 4 were both flat corrections ).
Anyway we might be reaching a market top as suggested and as we didn't have any retracement and that...
German Dax is calling for a correction on monthly/weekly time-frames. Also with the upcoming french and german elections this year, I am expecting weakness/corrections in german dax for the coming weeks.
1) BEARISH CHANNEL BREAK
2) New Bullish Channel with strong HH & HL'S
3)MAJOR KEY LEVELS AND RESISTANCE AT 1052
4) Currently holding at a major 4hr support zone
Expecting price to rally back up to 1065 which is also another key level
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