DAX30 - Final Wave Is In Full Swing

FX:GER30   DAX Index
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.
Nice analysis, do you think it will reach the blue 5 this week?
A lot of 1/2's... May need a recount, as the implications after that 1,2,1,2,1,2 were lackluster
Dluginacci NickCoulby
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!
NickCoulby PRO Dluginacci
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
English (UK)
English (IN)
Bahasa Indonesia
Bahasa Melayu
Tiếng Việt
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out