Recap: 5th Wave is finished possible abc retracment in place with low on 20ema weekly and 61.8% fibonacci (not shown in chart) bullflag on weekly small buy divergence on macd macd fastline about to cross zero line macd slow line turning up adx falling near 15 bullish reversal candle on weekly Outlook: break above bullflag should lead price to...
Possible Triangle Pattern on Dax. Could breakout top or bottom. Support and Resistance are possible Targets.
Looks like a possible ABC retracement. After C is reached enter short position.
If dax gets above the channel there is a good chance we will see the all time high.
Dax ranging between 12000 and 11800 (wich is the center of the last "bigger" value area). If we can break above 12000, dax should at least test all time high again, otherwise there could be a trend reversal in place or a longer retracement. If we break through 11800 the abc retracement failed, wich is a bearish indice. Good luck everyone :)
If dax gets above 11850 it could start a new Wave. If it can't break that level there should be a bigger retracement.