Potential Elliott wave pattern on the DAX

01/16/2020

Potential Elliott wave pattern on the DAX

I assume that the DAX has turned down to start a long decline in line with S&P and FTSE. But there is an alternate wave count shown above. May be the decline is wave (c) of a small correction in the uptrend. This is possible because the previous rally is in five waves [(i),(ii),(iii),(iv),(v)]. In this scenario wave (c) will end near 13200, the DAX will then start a new rally in five waves.

Posted by Better Trader on 01/16/2020 at 12:02 PM in DAX, Elliott Wave | Permalink

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Better Trader

01/16/2020