Elliottwave-Forecast
Short

DAX Elliott Wave Analysis Calling Rally to Fail

TVC:DEU30   DAX Index
Hello Traders,

DAX has broken below Oct 26 low (11051) and suggests that the Index has resumed the decline lower. We are calling the decline from July 27 high (12886.83) as a triple three Elliott Wave Structure where decline to 11051.04 low on Oct 26 ended blue wave (Y) and bounce to 11692.91 high on Nov 2 ended second blue wave (X).

Down from 1162.91, short term Elliott Wave view suggests that it ended the cycle from 11/02 in red wave W. The internals of that decline unfolded as an Elliott Wave Zig Zag structure (5-3-5) which ended black wave ((a)) at 11/12 (11310) and black wave ((b)) at 11/14 peak (11567). Below from there it ended black wave ((c)) of red wave W at 11/20 low (11010). Above from there it is currently in the process of correcting the cycle from 11/02 peak in red wave X and as long as the bounce stays below 11692.91 we expect Index to extend lower.

We don’t like buying the Index and expect rally to fails in 3, 7, or 11 swing as far as pivot at Nov 2 high (11692.91) stays intact.
14 days free trial --> https://elliottwave-forecast.com/amember/go.php?r=7975&i=l3 and get Accurate & timely Elliott Wave Forecasts of 78 instruments. Webinars, Chat Room, Stocks/Forex/Indices Signals & more.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out