This is an exercise where to anker inside median line (IML) and i used a 4H timeframe Lets start to look at the bigger picture. Dax trend is up waving between the bleu channel lines. We are currently at the bottom of the major trendline and could be indication of a reversal. When we look at the Green IML ,anker point (green cirkel ( 50% ) taken from the swing...
It appears that dax made a double bottom around 10900.. * ABC Wave First WAVE A fromed by a 12345 wave Leg 1 and Leg 2 already finnished Leg 3 target between 11238 and 11331 Leg 4 target 11140 (0.5 retrace) Leg 5 target between 11420 and 11550 WAVE B formed with a smaller abc wave possible target 11200 WAVE C formed with 12345 wave final target 11940 Note :...
Dax down to 11250 if that level holds,going up to fiirst target 11875 than 12k If 11250 doesnt hold dax can go to 10950
Gartley pattern still in play Up targets 350-500 Down targets 10850-10700
12K Again in september A major Low around 10300-10K november A new final rally to 13k around 04/2016
Just follow the green and red arrows All comments are welcome If you like this chart,hit the Like button
Looking at the bigger picture this year,DAX correction ( big ABC) isnt over yet. Assuming there will be a correction in US markets. From mid july to mid august a (bleu) Bat is forming Retracement of the recent rally (10650-11800) almost a fact around 11230 (0.5fib) Next leg up to 11650 Another retrace to 11k around mid august. Final rally for this year to...