DAX short just wait a little....

I still believe DAX is short but due to elliott counting, there is a open target on the upside.

(i changed the count, look @ the chart)

Yorum:

The question is: End of Wave 3 or Wave 5?

If wave 3 is an extending wave we will have the count I posted recently.
That is my prefered way. It fits to the movement in DOW.

It is also possible that wave 5 ends as soon as 10741 are broken.
Nevertheless short is the right direction for the next weeks.

My stop for that scencario is @ 11500.

Good trades.

Yorum:

That worked pretty good. 200 Points are save with this trade. I do not believe we´re finished on the upside so I sold over 50% of the Shorts. But i will rebuy them @ a higher Level or below 10200.

Yorum:

I believe we have seen wave 3 ended @ 10806. The last week was mainly wave 4. Very typically a soft short move, not to strong. This wave could continue to about 10400-10500 were wave 5 starts. A very bullish sign would be an upgap tomorrow morning @ about 10650.

Remember, stating the fact that wave 3 has ended yet wave 5 is a normal and not expanding wave. The Minimum target of wave 5 is 10807.