Jul 27, 2015
DAX chart update and trading with the moon:)
UPDATE - added the bearish scenario. Now if the bounce around 11000-11100 is weak and we see another lower low the move lower will look like an impulse which makes the picture more bearish. Than we should see a a retracement which I would like to see staying below 11400 and find resistance at MA50 on the daily chart - if this plays out the chart below is the new road map. We want to be prepared for a bearish outcome and here is how the bearish scenario look like - the move up since September 2011 finished in May 2015 and huge correction is running already. One leg lower zig-zag W, expanded flat 3-3-5 for X which will explain the impulse higher(which causes the confusion). Now the next zig-zag lower Y is running and in October he DAX should be around 10000... and this should be only the first part of the correction.