FDAX - 1000 points to go

Good evening fellow traders and investors !

Today we are taking a look at another major index, the Dax30!
It should be no secret to everyone that the top which formed @13480 was a wave 1 and right now we are in a corrective wave 2.
In the past there have been very good Chance/Risk setup's in this index and i am already looking for another entry.

The entire elliot wave structure is marked on the chart and easy to understand.

Primary scenario: Likelyhood 70%
We will correct to atleast 10700 points and will then start a impulsive wave 3. I will mark a potential entry point and will keep you updated.

Alternative Scenario: Likelyhood: 30%
If the market should break above 13170 points it will be very likely that wave 2 is finished and we will directly start to new ATH's. (Longterm 18000 Points)

Beware that i don't have any open long positions, i will wait for a solid bullish impulse and then announce my entries!

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If you have questions related to a specific stock or the Elliot Wave theory, feel free to contact me.