Elliott Wave Analysis: German DAX In A Pullback; Support Seen Around 10500/10550


Stocks are not in such a strong uptrend at this moment, but we think that sooner or later trend will resume. Ideally DAX will turn up again after a pullback towards 10500-10550 area where a flat correction may accomplish wave 2/B.




German DAX, 1H










A Flat is a three-wave pattern labeled A-B-C that generally moves sideways. It is corrective,counter-trend and is a very common Elliott pattern.

Basic Flat Pattern:



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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.