Looking at the monthly and weekly chart of DAX30 it seems a bullish ABCD harmonic price pattern has formed. I would expect the price to rise up to the Fibonacci level of 1.618 reaching the previous area of supply back in 04.2015 which could whether turn into an area of demand making price push even higher or make the price fall once again. The pullback, at least temporary, would probably be more likely.

The price has already broken the weekly trend line and pulled back up to the previous areas of resistance on 20.04.2016, 30.05.2016, 23.06.2016 and 28.07.2016. After reaching the 100 EMA on the daily chart the price has closed higher for the last 3 days and should possibly close higher today. It has broken through my drawn trend line from D to the Fib level of 1.618 but since the stochastic on other timeframes is currently overbought I would wait for a small pullback before entering a long trade. Perhaps next week should provide a good entry opportunity. I would probably enter as usual, after I would see that the stochastic is overbought on 1hr and 4hrs, with average crossing the stochastic indicator, and there would be a divergence on any of those timeframes. Alternatively, the price could reach the Fibonacci level 1 on the daily chart, bounce off of it and pull back up to the trend line D to the Fib level of 1.618 and then generate a reversal candle, like a low test bar where we could place the buy stop order.

On the 1st of November I would expect the pattern to complete, the price reaching the Fibonacci level of 1.618 and be at around the price of 11840.
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