DAX seems to be tracing the end phase of a minor ABC pattern that should complete intermediate wave 2 up. The retracement is getting near the most probable 0.618 fibonacci level for waves 2. After this leg is completed, DAX should trend to new lows. Volume confirms the counter-trend correction as it has been declining while prices increasing. FOLLOW SKYLINEPRO TO GET UPDATES.
Trade closed: target reached
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DAX seems to have reached the measures and wave counts of the primary wave 2 counter trend rally. There is an alternative possibility that it goes up to 12,664 before trending down to new lows.
What is the limit of this last final move up? please add figures to your chart to make it more credible.
SkylinePro
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@FlyToSky1, the 0.618 Fibonacci level is at 11,720
FlyToSky1
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@SkylinePro, thanks a lot! What do you think about the current situation of DAX30? As i see it went down, is it a temporary pullback, or trend reversal? Do you think it would go up to 11,720?