Dax seems to be making correction from rally last week

Updated

Ideally price drops towards the green area now, if we do i will probably go long again around the 12.100/12.150 for the final wave up in the 12.700 area. There i will build up a very big short position, which has been my plan since we made that crash 2 months ago.

To understand my plan better it's best to read my previous analysis about the DAX

Here where i predicted the rally from a week ago from the 11.800

Potential reversal on the DAX, confirmation needed first!

And here i predicted the start from the bear market when the futures will still trading at 13.440

Ending diagonal for DAX, Long term bear market will start today!

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Looks like a H&S, top formation on the short time frame

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I have been trying to post a new idea, but i keep getting an error. I will try it later again.

Dax has just been going up without any real correction since i predicted the reversal a few weeks ago at exactly the low :) But all that was part of my bigger game plan for the stock markets. That we have entered the bear market since January this year (where i also predicted the start at the top :)). Since than i have been waiting for prices to get around 12800/13.000 to build up a very big short position. Now we are getting close to that target!

For the short term i expect another wave down that would ideally find support around 12.100 and from there move up again towards the 12.800. I am still flat since i closed my remaining long position at 12.300 and have been waiting for the price to make a real correction and to go long again. It's always tempting to get in early but patience is important for a trader.

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And there we are, patience pays off :)

I have closed my everything i got left, and just opened my first short position, i will buy it in 4 or 5 portions the coming week

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I will try to post a new analysis today

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The Germans really feel like pumping it higher, i got my second portion in as well :)

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Markets just keep pushing higher, US could still make a bull trap for the Dow around 25.000, so we could still go higher, but i am sticking to my plan. I got the third portion in as well. I have 2 portions left which i will keep on opening up to 13.200

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I got my fourth portion in as well, things are starting to slow down, so i think the top is near now, maybe even set

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Got the last ones in at 13110. Average 12.950, i wont be adding anymore. Will post a new analysis soon, when i find the time :)

botje11

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