Dluginacci
Long

DAX30 - Final Wave Is In Full Swing

FX:GER30   DAX index of German listed shares
Two weeks ago I have posted my last analysis about the DAX30             , expecting the (red) 2 to be completed. If you remember, I was expecting two possible scenarios, whereof the second scenario became reality. However, the (blue) 4 seems to be complete at this stage and the next and final stage, the (blue) 5 is in full swing.

Right, for all of you who are not really familiar with the Elliot Wave Theory a quick crash course:
A (trend) move contains 5 waves, from which 3 (1,3 and 5) are so called impulse waves. The waves 2 and 4 are always corrections and point against the overlaying trend. Now, every impulse wave, i.e. wave 5 is build up in five smaller waves, whereof these are again build up by even smaller waves and so on.

A Good Example Is The Current move
As you can see the (blue) 4, which was a correction, is finished and is building up a (blue) 5 - which again contains five waves - in this case red - and the red contains the orange and the orange the grey - and this is where I stop because I don't want to atomise it.

Anyway, I think you get the idea when you look at the chart.

Bottom Line
My target from two weeks ago still stands: 12.300 and from there we go. There's a good chance that the price is going to excess that target level but if so, be careful! A big a-b-c correction will be due as soon as the (blue) five is complete.

I have opened a DAX30             long position on all my public accounts after the (orange) 2 was finished, aiming for the 12.300. Looks good so far.
A lot of 1/2's... May need a recount, as the implications after that 1,2,1,2,1,2 were lackluster
Reply
Dluginacci NickCoulby
2 years ago
Quite confident that the count is right as we are in an overlaying five, which can result in a failing 5 - worst case scenario. Cheers!
Reply
NickCoulby PRO Dluginacci
2 years ago
We'll have to see, the simplicity of wave 2 makes me think this is merely a continuation of a more complicated wave 4.. Regards
Reply
KingJedi
2 years ago
Nice analysis, do you think it will reach the blue 5 this week?
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out