• 19 hours Trump Signs Executive Order To Protect Private Moon Miners
  • 1 day Renters Are Striking As COVID Reshapes Real Estate
  • 2 days Nothing Can Stop The Tesla Boom
  • 2 days 9 Ways The Lockdown Is Playing Out Around The World
  • 3 days WeWork Sues SoftBank For Withdrawing $3 Billion Insider Payoff
  • 3 days Solving Transportation’s Biggest Problem
  • 4 days Big Banks Could Win Big On Fed Small Business Bailout
  • 4 days Trump Increases Pressure On Venezuela
  • 4 days Researchers Create Organic Battery
  • 4 days Gold Is Still A Safe Haven, But Not Very Alluring
  • 5 days China Is Buying Up Billions Of Barrels Of Cheap Crude Oil
  • 5 days Are Gold Stocks Going To Bounce Back?
  • 6 days The Politics Of A Pandemic
  • 7 days What Does CHina’s EV Slowdown Mean For The Battery Metals Sector?
  • 7 days COVID Report Cards Will Brand Businesses Forever
  • 8 days Trump Tweet Sends Oil Soaring 25%
  • 8 days Why The Coronavirus Economic Crash Is Worse Than You Think
  • 9 days Is A Global Currency Necessary?
  • 9 days America Has Shed 500,000 Millionaires Since The Coronavirus Lockdown Began
  • 10 days Trump Wants Another $2 Trillion Economic Intervention
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for…

Contact Author

  1. Home
  2. Markets
  3. Other

German DAX: Downtrend Still In Play

DAX is trading higher this week but so far rally is not impressive; we see some slow moves here so it can easily be a corrective movement. An updated count shows a possibility for wave 4 that can be looking fro a resistance near 10000 psychological level. A new fall from there can be seen then, down into the wave 5, final leg of an ending diagonal. We would turn bullish only ifprice would rally above to 10400/10500.

German DAX, 4H

German DAX 4-Hour Chart

The ending diagonal is a special type of motive wave that occurs primarily in the wave 5 position when price has moved too far and too fast. Some ending diagonal triangles appear in the C wave of an ABC correction. In all cases, the ending diagonal terminates the move of larger patterns.

An Ending Diagonal Pattern:

Elliott Wave Idealzed Ending Diagonal Pettern

 


If you like our trading analysis, you can visit our website at --> www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment