Now have a look at this interesting situation in the DAX. The bigger picture charts tell me that the correction is about to continue, bringing the DAX way below 13000 again, but the smaller timeframes suggest, that it could also be a new impulse ( read: end of the year rally)

The most recent development shows a move down is about to start, the 127% extension level was hit quite precisely:

I am short in the DAX right now, but I am well aware that this coul only be wave 4 correction. So If I see a threewavish look of this wave, I will close this trade for a small profit. I might have to stay in this trade over the weekend...

If you think this to be useful information:


Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.

DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions.
If you make any trades or investments after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

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Have a nice day :-)