fximperija

DAX EW weekly sequence

FX:GER30   DAX Index
The 2009 - 2015 EW sequence has been completed and DAX             entered correction. This could mean ABC correction for another EW up but, imo             this looks more like a start of a new bearish EW sequence. This should be confirmed if DAX             breaks bellow the previous EW4 in this descending channel . I can not rule out breaking 10000 mark and testing the higher channel trendline around 10755. For this to happen, DAX             should break the descending channel median and ascending channel lower trendline .
This is the daily Dax EW sequence. I believe we are on the EW4 pullback that has finished last week. Looking for a reversal into EW5 and new low in the coming days.
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fximperija fximperija
Further more this is the last and I believe finished EW sequence on the daily EW4 pullback which shows that the reversal for the EW5 and low is about to happen
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