German DAX In A Pullback; Ideal Reversal Zone At The 10120 Area

0
35

DAX is turning strongly to the downside from a new high, so we believe that index is trapped in a new corrective pattern; a very complex one that can either be an Elliott Wave flat or an Elliott Wave triangle. As things stands at the moment, we favor the flat that is pointing down for wave five of C which could then form a bottom at 10000-10100 area.

nice-price

German DAX, 1H

dax-4

SHARE
Previous articleETHXBT Price Technical Analysis – Triangle Breakout Toss-Up!
Next articleReasons to Keep Shorting Valeant Pharmaceuticals Intl Inc (NYSE:VRX) Shares
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.