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Elliott Forecast

Daud Bhatti

DAX Incomplete Elliott Wave Bullish Sequence Favors Higher

June 15, 2023 By

Short Term Elliott Wave View in DAX suggests the rally from 3.20.2023 low is in progress as a 5 waves impulse. Up from 3.20.2023 low, wave 1 ended at 15298.49 and pullback in wave 2 ended at 14809.82. Index then extends higher in wave 3 towards 16331.94. Pullback in wave 4 is unfolding as a . Down from wave 3, wave ((a)) ended at 15726.5 and wave ((b)) ended at 16079.73. Wave ((c)) lower ended at 15629.12 which completed wave 4. Index has resumed higher in wave 5.

Internal subdivision of wave 5 is unfolding as a 5 waves impulse Elliott Wave structure. Up from wave 4, wave ((i)) ended at 16114.84 and pullback in wave ((ii)) ended at 15909.85. Index then resumes higher again in wave ((iii)). Up from wave ((ii)), wave (i) ended at 16020.28 and wave (ii) ended at 15913.95. Expect the Index to extend higher 1 more leg to complete wave (iii), then it should pullback in wave (iv) before it resumes higher again. Near term, as far as pivot at 15629.38 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

DAX 1 Hour Elliott Wave Chart

DAX Elliott Wave Video

Source:-forecast.com/news/dax-incomplete-elliott-wave-bullish-sequence-favors-higher/

#trading #elliottwave #DAX

15/06/2023 1 EN

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Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Daud Bhatti

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