DAX doing three wave corrective bounce from the lows [Video]
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The transient Elliott wave understand within the DAX means that the index has ended the cycle from the 31 July 2023 top as a number one diagonal construction in a more in-depth stage corrective sequence. Whereas the decline to 15468 low ended wave 1, wave 2 ended at 16042 excessive. Wave 3 ended at 14948 low & wave 4 ended at 15575 excessive. Down from there, wave 5 unfolded in a lesser stage 5 waves construction the put wave ((i)) ended at 15103 low. Wave ((ii)) ended at 15288 excessive, wave ((iii)) ended at 14820 low, wave ((iv)) ended at 14914 excessive and wave ((v)) ended at 14630 low. Thus ended wave 5 of (A) as a number one diagonal construction.
DAX one-hour Elliott Wave chart from 11.03.2023
Up from there, the index is doing a 3-wave corrective bounce within the wave (B) bounce as an Elliott wave zigzag correction. Whereas the preliminary rally to 14916 excessive has ended wave ((i)). Then a pullback in wave ((ii)) unfolded as a flat correction the put lesser stage wave (a) ended at 14809 low. Wave (b) ended at 14933 excessive, and wave (c) ended at 14655 low. Above from there, the index is extending better in wave ((iii)) as an impulse sequence. Terminate to-term, so long as dips remain above 14630 low the index is anticipated to continue to elongate better for about a extra highs. To total the principle leg of the bounce in wave A. In a while, the index is anticipated to discover a pullback in wave B. Then it can perchance well build yet every other extension better in wave C to total the three-wave corrective bounce.
DAX Elliott Wave video
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