DAX - interesting TL coming up
It seems that the correction which happened yesterday was only part of the current bounce. Probably a wave 4, since if it would be wave 2, it would mean 3/C would finish a LOT higher.
What is interesting is that after resuming the uptrend, DAX met an interesting trend line which stopped it in it's tracks - the purple line shown.
Right now this nested wave up can be counted as a complete impulse and if the TL agains stops the rally, a bigger correction could ensue. I will watch the action here carefully since it could mark a significant short-term change of trend.
If we break the TL and the high from yesterday, the rally might have more to run. Next important TL coming up around 10300..
Good luck to your trades!
What is interesting is that after resuming the uptrend, DAX met an interesting trend line which stopped it in it's tracks - the purple line shown.
Right now this nested wave up can be counted as a complete impulse and if the TL agains stops the rally, a bigger correction could ensue. I will watch the action here carefully since it could mark a significant short-term change of trend.
If we break the TL and the high from yesterday, the rally might have more to run. Next important TL coming up around 10300..
Good luck to your trades!
