For DAX, there are 3 possible scenarios:
1st: DAX is in a Impulse Minuette wave 5, which terminates at 13200 as shown in the chart (TP1).
2nd: If wave3 and 4 would be replaced by a 1 and 2 respectively (possible!), wave 3 could stop at TP2 Fib. 1,618 ( 13776) for a standard Extension 3, which is above ATH. A possible time frame could be 2-3 tradingdays.
3rd:...
Implications and Outlook
1. Further short-term bullish momentum likely to hit Index Rally 13075 and perhaps all the way up to next 13405 level.
2. The break of one of the Rallies will undoubtedly bring serious of the short-term bearish implications, having downside targets to Mean Support 12690 and Key Support of 12422.
3. Current bullish/bearish bias is...
at the chart we have a rising wedge with minor waves and a rising wedge inside the minor wedge with minute waves. break of the red line with the minute waves can lead the price to test the green line with the minor waves. where a break of the minor wedge can lead the price back to between 12.400 and 12.540, where 12.400 is 0.5 on fibonacci levels and 12.540 is...
Hello traders.
DAX has some big potential for downside. As I can see the correction is an expanding flat in 1D timeframe. It can still keep going up because we don't have any divergence in 1H in up impulse. But, when it completes the C wave, it will go down. Of course, there are some other options, so down move can be a correction instead of an impulse. The idea...
It has been really surprise for me.indices going up side without correction.this year jan every indices going upside without correction result sudden crash.same thing happing again.all indices going upside without correction.dax is need a correction it may go up until 13636.it need a small correction min 12736 or else we will see another heavy drop like jan.
Comments on the chart. Please note that at this stage this is one to watch only. There are bullish signs as well on the chart. I love chart patterns and would love to see how this one plays out
We can expect a small pull back to the first support line at: 12917.3,
- The second uptrend support is founded at 12865
Upcoming:
Afther the small pull back we can expect a nice rally to the resistance line at: 13032.8 (with possible break-out)
XETR:DAX
As for the formation of the DAX, it seems to enter slowly in the final phase of a double zig-zag correction. It finished the initial ABC formation completing W of the double zig-zag, soon it will finish the X phase, that is also a an ABC formation and I expect another decline as the Y phase, that I guess will be another ABC formation. The price target...
