German DAX : Bullish Reversal In Play

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On the lower time frame, DAX is at the highs, now probably in wave 3-circled that has room for 10000 and then even 10600 region; at 161.8% Fibonacci extension level. In the meantime, invalidation level is at 9330; so we will continue to look higher as long as this support is not breached. Ideally, a new strong bullish impulse on stocks has already began.

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German DAX, 4H

dax 4

 

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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.