I'm gonna go for a vacation this week. From next week I'm gonna start studying for my exams, so I'm not gonna follow the market during the day (thus I'm not gonna trade until I'm done). I'll try to update my context every once in a while though.
I think the market is likely bottomed and reached the end of a wave (4). The price action is likely making legs for an attack of the ATH again. This wave count is especially valid above the last week's low. The market reached and ideal level in fibonacchi extension (wave A and wave C)) wise and also hit the ideal fibonnachi retracement level on higher time frame (38.2). Primary targets are marked on the 4 hours chart with red lines.
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| DAX: h1 - h4 - daily charts |
2nd target on the 4 hours chart is hit. This is either a leading diagonal or a 1-2-[i]-[ii] situation. Due to my interpretation of the context I lean toward the second scenario.
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