Well everything is going as predicted so far, so this update will be fairly short. We have cleared most of the levels to the upside today and are currently hovering around the deviation high. I suspect there will be a pullback this afternoon before further upside. If we break below 9300 then there is a low volume pocket down to 9280, perhaps an opportunity to add to positions there.
My trade is still active, Trade0041 and currently sitting on over 100 points profit so I am very happy with that so far, I am avoiding the temptation to take money off the table, because I believe that we have plenty more upside. I am not scalping, this is a swing trade which I am happy to leave.
I can not see us trading much higher than 9375-9400 today. This is the daily R2.
Intra-day bias: Bullish
Overall trend: Bullish
Target: 9500
Here is an article with elliott wave forecasts for Gold and DAX which is very interesting, it agrees with my predictions.
Midday Dax Update
