Elliott Wave Analysis: German DAX Impulsively Trading Higher

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Finally, German Dax broke to the upside now into wave 5 after recently completing the fourth wave pullback near 11420 so current trend may stay here for more more days. Notice that we have a lot of Fibonacci targets near 12000 which is far away so expect more upside while market is above 11500 swing low.

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German DAX, 4H

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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.