The triangle I highlighted yesterday played out. The DAX rallied, came within 10 points of the upper trend line and then retreated a bit. The retreat of wave e of the triangle was very small, it undershot the lower TL by a lot, but that can happen.
Now that we have the triangle break-out, the direction is up. We need to complete a 5 wave impulse to finish the C wave of this (presumed) 4th wave - a-b-c bounce.
The line at 11.022 is where wave 1 of the correction is, so if we overlap that it either means a bear nest or something more bullish. I do not expect the said overlap though.
For traders, there is great news coming from mcm.
mcm-ct.com/blog/public/
They have developed short-term trading tools also for dax (previously had only for s&p and dow). This is a major deal as these tools provide a great edge especially in this very stressed environment.
I started a cooperation with them on that regard, so if you have any questions about the tools or are potentially interested in how they work please contact me anytime at alex@mcm-ct.com.
Good luck to your trading!
Now that we have the triangle break-out, the direction is up. We need to complete a 5 wave impulse to finish the C wave of this (presumed) 4th wave - a-b-c bounce.
The line at 11.022 is where wave 1 of the correction is, so if we overlap that it either means a bear nest or something more bullish. I do not expect the said overlap though.
For traders, there is great news coming from mcm.
mcm-ct.com/blog/public/
They have developed short-term trading tools also for dax (previously had only for s&p and dow). This is a major deal as these tools provide a great edge especially in this very stressed environment.
I started a cooperation with them on that regard, so if you have any questions about the tools or are potentially interested in how they work please contact me anytime at alex@mcm-ct.com.
Good luck to your trading!
