DAX "Higher & Higher" - The bullish argument for the daily chart
DAX Daily
Have looked at the monthly chart (See link below)... This is a follow up for the daily chart.
Looks like 4th wave is done with a zig zag and right now have made a wave 1 up on it's last and final wave 5.
I assume that wave 2 is about to be finished. The 60 min looks like it still could make a move slightly move lower.
I made a highly speculative fib for the 5th wave. It has confluence zones with the monthly chart
which I have left on the daily chart for reference.
I see wave 5 ending with a slightly higher high than top of wave 3. BUt 5th waves is notoriously known for also
truncate... so being cautious at the 12300 is more than recommended.
Remember This is the bullish argument. I see it correlates well with the US indies heading for a New ATH.
The time span is possibly end of may for above to pan out.
Validation comes along the way when DAx makes it higher and higher... but truly validation of this count comes with a new ATH.
If not a higher high... then we need to look into whether it's a truncated 5th wave or a wave 2 up.
Fear not .... believe in what you see and trade it
@BLawrenceM
Music at work:
www.youtube.com/watch?v=E99lArVv...
open.spotify.com/tra...7kEEGs5vbzoQ4GyxByBs
Have looked at the monthly chart (See link below)... This is a follow up for the daily chart.
Looks like 4th wave is done with a zig zag and right now have made a wave 1 up on it's last and final wave 5.
I assume that wave 2 is about to be finished. The 60 min looks like it still could make a move slightly move lower.
I made a highly speculative fib for the 5th wave. It has confluence zones with the monthly chart
which I have left on the daily chart for reference.
I see wave 5 ending with a slightly higher high than top of wave 3. BUt 5th waves is notoriously known for also
truncate... so being cautious at the 12300 is more than recommended.
Remember This is the bullish argument. I see it correlates well with the US indies heading for a New ATH.
The time span is possibly end of may for above to pan out.
Validation comes along the way when DAx makes it higher and higher... but truly validation of this count comes with a new ATH.
If not a higher high... then we need to look into whether it's a truncated 5th wave or a wave 2 up.
Fear not .... believe in what you see and trade it
@BLawrenceM
Music at work:
www.youtube.com/watch?v=E99lArVv...
open.spotify.com/tra...7kEEGs5vbzoQ4GyxByBs
