As you can see, from the lows of March the impulsive movement has been on the up side except for the two down moves of end of April beginnings of May.
The most important point is, after those two corrections, we now see a tremendous impulsive movement up, very strangely a B movement (correction inside a correction) can be so impulsive. Therefore I think we are now resuming wave 3 or wave C of a zigzag, and going up.
Thanks for any comments, I'm a student and therefore want to read your opinions and critics!
Trade closed: target reached
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It seems that at 11350 we are on a 5th wave, and therefore is time to leave the trade and wait for a correction. Although it shouldn't be very strong, it seems the DAX has made fast or long corrections since 23 March 2020, therefore is better to wait outside.
@hey, could you please give an update on the current situation? Do you expect DAX30 to move to the 117-118 area or would it retrace from where it is now to the downside?
tandroide
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@FlyToSky1, From the end of C wave in 10150 we have seen five waves to 11500 and today the movement has been very restrained.
I would see a movement to 109 and then resuming back.
Again, I'm just a student, not a professional analyst.
What's your opinion?
FlyToSky1
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@tandroide, thank you for sharing your opinion! I am still student too! I've seen similar to your opinion in other people's opinion as well. Thanks a lot