Nov 9, 2010

DAX - Elliott Wave Update

     In Friday DAX closed within the target (6754), that I offered in my post in the late July. 
Very interesting lines crossing has occurred when conecting few tops and bottoms, whose spot is going to be next few days. Usually around such  spots the price turns. 
    According to the current count (4)th and(5)th waves are still expected. Probably the (3)th wave is not finished yet. Don't reckon on sell off, becuse the lowest "alowed" price level acording to the scenario is 6550.   The long term trend is up, and  shorting the market on daily base is risky and no preferable. Lower time frames will be suitable for daytrading.
Good luck!


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