Elliott Wave Analysis: German DAX Remains In The Uptrend
Hello traders and investors!
Today we will talk about very nice and clean Elliott Wave pattern on German DAX, where we can see a clear impulse in progress.
We are tracking an impulsive five-wave cycle from 13300 lows nicely connected within channel range. And, after recent (A)-(B)-(C) corrective decline in wave 4, seems like DAX can be on the way even higher for wave 5 towards 15700 - 16000 area.
Today we have seen a perfect rebound from the channel support line, previous wave 1) swing high and 38,2% Fibonacci retracement, which clearly indicates for a bullish continuation back to highs.
Always Keep It Simple!
Trade smart!
If you like what we do, then please like and share our idea.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Today we will talk about very nice and clean Elliott Wave pattern on German DAX, where we can see a clear impulse in progress.
We are tracking an impulsive five-wave cycle from 13300 lows nicely connected within channel range. And, after recent (A)-(B)-(C) corrective decline in wave 4, seems like DAX can be on the way even higher for wave 5 towards 15700 - 16000 area.
Today we have seen a perfect rebound from the channel support line, previous wave 1) swing high and 38,2% Fibonacci retracement, which clearly indicates for a bullish continuation back to highs.
Always Keep It Simple!
Trade smart!
If you like what we do, then please like and share our idea.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Explore our services
👉wavetraders.com/elliott-wave-plans/
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
👉wavetraders.com/elliott-wave-plans/
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.