Mr. Dax – 70% chance for lift off
Hi,
Mr. Dax now is standing at a very interesting level. Most people think it’s going down. Well, I think we will see a movement against this week’s trend up to the sore point - minimum. And there’s a very high probability to make it trough aiming for new highs. But if sore point doesn’t fall the Dax will go down to 11,500 – 10,000 points starting from there to 14,000 points and even more.
What does this mean in Elliott-Speech?
I think the Dax is in a strong uptrend since the crisis low (mrz 2009 / 3,588 points). At higher wave levels there are three 1-2 wave setups. So now we are in between wave 5 of 5 of 3. The correction we saw since the last significant high at 13,525 points was wave 4. Since then we have seen another two 1-2 wave setups at lower wave degrees. I see a good chance for a turn around starting into wave 3 of 3 of 5 of 5 of 3 (check chart below for further information).
BUT: keep risk and alternative scenarios in mind!
Version 1
Turn around up to sore point, battle between bulls and bears, bulls win, about 2,000 – 3,000 points + (this one I prefer)
Version 2
Turn around up to sore point, battle between bulls and bears, bears win, we close long (about 1,000 points +), we start a short, about 2,000 – 3,000 points + (if that happens we saw a wave 3 on a wave level of higher degree at the high at 13,525 points. The target zone of wave 4 would be at about 11,500 – 10,000).
Version 3
It’s version 2 without going up to sore point. Then we should look out for new entry points.
This in mind I placed a longorder.
Entry: 12,217
1. stop: 12,100
Where we are standing (big picture)?
Take care,
tgo
Mr. Dax now is standing at a very interesting level. Most people think it’s going down. Well, I think we will see a movement against this week’s trend up to the sore point - minimum. And there’s a very high probability to make it trough aiming for new highs. But if sore point doesn’t fall the Dax will go down to 11,500 – 10,000 points starting from there to 14,000 points and even more.
What does this mean in Elliott-Speech?
I think the Dax is in a strong uptrend since the crisis low (mrz 2009 / 3,588 points). At higher wave levels there are three 1-2 wave setups. So now we are in between wave 5 of 5 of 3. The correction we saw since the last significant high at 13,525 points was wave 4. Since then we have seen another two 1-2 wave setups at lower wave degrees. I see a good chance for a turn around starting into wave 3 of 3 of 5 of 5 of 3 (check chart below for further information).
BUT: keep risk and alternative scenarios in mind!
Version 1
Turn around up to sore point, battle between bulls and bears, bulls win, about 2,000 – 3,000 points + (this one I prefer)
Version 2
Turn around up to sore point, battle between bulls and bears, bears win, we close long (about 1,000 points +), we start a short, about 2,000 – 3,000 points + (if that happens we saw a wave 3 on a wave level of higher degree at the high at 13,525 points. The target zone of wave 4 would be at about 11,500 – 10,000).
Version 3
It’s version 2 without going up to sore point. Then we should look out for new entry points.
This in mind I placed a longorder.
Entry: 12,217
1. stop: 12,100
Where we are standing (big picture)?
Take care,
tgo
HK-Capital-Management
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.