DAX Short Opportunity
DAX is currently in a ABC correction. After a 5-Wave Impuls (Wave 1) with a "Ending Diagonal" Wave 5 we are now breaking out of the wedge and heading into a correction.
Wave 2 in a Impuls is frequently 50%-61.8% of Wave 1.
As you can see on the chart, the 50%-61.8% area is a major resistance area which will most likey be a reversal-point after this correction.
Target: 10'500
Wave 2 in a Impuls is frequently 50%-61.8% of Wave 1.
As you can see on the chart, the 50%-61.8% area is a major resistance area which will most likey be a reversal-point after this correction.
Target: 10'500
Note
Wave A complete! Expecting DAX to rise to 12'000 before a further drop to 10'000-10'500 Area.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.