Today, I have to cite myself again:
We have a long Kumo breakout in the DAX 4 hours chart. This confirmes my bullish count. If true, the DAX should be able to surge significantly in the coming weeks.
If you don't know what this means, I will explain it to you. It means that the cloud is breached significantly, prices above the cloud are considered a buy signal.
As long as there will be no new low below supposed blue wave 2, I only see probable pathways up.
It is very likely that the end of the year rally has started today. The DAX opened with an upgap of 100P above the cloud (very bullish), and the gap was not closed. Instead it breached the high of last week easily.
As you can see, the 61.8 retracement was hit precisely (very bullish), forming a triple bottom (bullish) @ 13009!
I suspect this wave up to be a wave 3 which will bring the DAX to 13640. This could still happen in 2017!
My long trades are already 50P in profit and I plan to hold it until 13600 at least. I love this early christmas gift...
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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.
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