Today could see a break through the 10640-10650 level leaving DAX to go all the up towards 11800. The reason why I think this may occur (60% chance) is that Friday's engulfing candle is so far the strongest bullish candle formation within this bull flag.
Alternatively, we may still see the last leg down towards 10140 (40% chance) which will give traders a great opportunity to stock up on longs.
Either way, the bubble that is the stock market will continue to grow larger before it properly pops!
This is my take on things and I urge traders to trade their very own plan!
Thank you for viewing my idea and I wish all of you successful trading...
Alternatively, we may still see the last leg down towards 10140 (40% chance) which will give traders a great opportunity to stock up on longs.
Either way, the bubble that is the stock market will continue to grow larger before it properly pops!
This is my take on things and I urge traders to trade their very own plan!
Thank you for viewing my idea and I wish all of you successful trading...
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Friday reached the 38.2% FIB level and it is now anyone's guess whether DAX will test the upper trend line or move down towards the 61.8% FIB level.
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