#dax $dax

If this mooching about is a 'b' wave following the drop off last night's high, it is looking bigger overall than the prior move back into 8909. I am showing an alternative count here where although the test zone is likely to be near the 8938 support area, I am not going to be jumping in long until I know that the 8909 low has been backtested properly. The 162% extension of the proposed 'a-b' from last night is at 8900, 9 pips lower than that 8909 low. Given there would be plenty of stops under there, just need to be wary of a draw lower to clear out timid longs in that zone. This all supposes, price does not just keep going up into the 9150 zone, but I am not interested in going long until lower again.