Correction nearly over, higher prices to come
That was a big move down on friday.
We should see a little move upwards (wave 4 in red) and the last impulse down which will complete wave 5 in wave (c) in wave (4).
On the right side you see the previous minor wave count (1-5) and the DAX should find support near 11400 which is also the 161.8% of wave (a) (in red).
If the correction finishes at 11400 we should see a last big impulse (in 5 waves) upwards to the last target between 12500 and 12600 which is the 38.2% fibo from starting point of wave (1) to the termination point of wave (3).
This target should be reached at the beginning of may, and we should see another big correction.
Always keep in mind: Sell in may and go away ;-)
I wish you the best trades and a good week!
Further information:
The ECB continues with its QE program so we have a lot of cheap money in the market, this also supports the idea of a new all time high in all indices.
We should see a little move upwards (wave 4 in red) and the last impulse down which will complete wave 5 in wave (c) in wave (4).
On the right side you see the previous minor wave count (1-5) and the DAX should find support near 11400 which is also the 161.8% of wave (a) (in red).
If the correction finishes at 11400 we should see a last big impulse (in 5 waves) upwards to the last target between 12500 and 12600 which is the 38.2% fibo from starting point of wave (1) to the termination point of wave (3).
This target should be reached at the beginning of may, and we should see another big correction.
Always keep in mind: Sell in may and go away ;-)
I wish you the best trades and a good week!
Further information:
The ECB continues with its QE program so we have a lot of cheap money in the market, this also supports the idea of a new all time high in all indices.