$CHXEUR:LHAD
Lufthansa touched today a significant Fibonacci level, the 0,382 of the previous 3rd wave. The time length of the correction is also eligible, so everything is given to begin its 5th wave. I should also mention, that the next (0,5) Fibonacci level is under the top of the 1st wave, so if it reached then the wave counting would prove incorrect because wave 4 would overlap wave 1 that is not allowed according to EW theory. The uptrend will be strengthened if the price crosses the red trend line upward. Price target is above the previous top, 31,12€.
Lufthansa touched today a significant Fibonacci level, the 0,382 of the previous 3rd wave. The time length of the correction is also eligible, so everything is given to begin its 5th wave. I should also mention, that the next (0,5) Fibonacci level is under the top of the 1st wave, so if it reached then the wave counting would prove incorrect because wave 4 would overlap wave 1 that is not allowed according to EW theory. The uptrend will be strengthened if the price crosses the red trend line upward. Price target is above the previous top, 31,12€.
Note
Here is the weekly chart with the primary wave countingNote
LHAD declined further. If it breaches the 20,26 level the present wave label will be negated.
Note
LHAD declined further and it reached the 0,5 Fibo level. There is still room to reach the 0,618, but the indicators shows an imminent turn. I relabelled the chart and it seems that the top of the wave 1 was on 17 then came an expanded flat correction in 2014. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.