DAX, is 13000 the top of this leg?
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: DAX terminated this whole leg on Friday. TP3 for the following wave 2 would be 12258 (Fib. 0,618) of the whole preceeding wave 1.
Due to the fact, that STOCH is heavily overbought, I prefer TP1 for the start of a little consolidation or TP3.- Let's see, how the US-market starts tomorrow, Monday.
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: DAX terminated this whole leg on Friday. TP3 for the following wave 2 would be 12258 (Fib. 0,618) of the whole preceeding wave 1.
Due to the fact, that STOCH is heavily overbought, I prefer TP1 for the start of a little consolidation or TP3.- Let's see, how the US-market starts tomorrow, Monday.
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