JonasBenjaminFriedrich

DAX with 3 Wave Pullback as postet, could come to end soon

TVC:DEU40   GERMAN STOCK INDEX (DAX)
As analyzed the German Index made the expected 3 wave pullback to the upside. However the overall picture remains bearish in my count. There is still little bit more room to the upside maybe around 12200. The index should now be watched carefully however since we are potentially in the final stage of a 3-wave corrective completion after which I expect the downtrend to continue. (Note this setup is valid as long as we dont make new highs over 12500)
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.