JustinCamm

Hello I trade the Dax and it looks like we may have a wave 5 extension unfolding. From what I can find on the internet it suggests a FIB Ratio of 1.618 from wave 1 to 3 (on the primary cycle) which either starts from the end of wave 4 or from the top of wave 3. This means that the target for for the Dax is either at 22,000 or 24,000. I know this sounds insane but if you look at the monthly chart (attached) it seem to fit nicely in to a channel trend line dating back to March 2015. Accordingly, it also means that we can expect a massive crash at that point which fits in well with the bear narrative that has been going on for a while now. I was wondering if anyone has any thoughts on this? Also - if we are having a wave 5 extension, does anyone have advice on what to expect when trading it? Thank you