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
