DAX Breaks Down From A TriangleSep 27, 2023

DAX breaks down from a triangle as expected based on technical analysis and Elliott wave theory.

DAX is trading nicely as expected within a higher degree A-B-C correction as we have been warning our members in past updates.

DAX Breaks Down From A Triangle DAX 4H Chart From September 19
DAX 4H Chart From September 19

On September 19th we also shared a tweet about that deeper, higher degree A-B-C corrective decline, where we spotted a bearish triangle pattern in wave B.

As you can see today, as expected DAX broke down out of wave B triangle into wave C, where index can be now hunting the 15k support.

DAX Breaks Down From A Triangle DAX 4H Chart From September 19
DAX 4H Chart From September 27

DAX is bearish, now finally coming out of a triangle pattern as expected, so wave C is in play, ideally towards 15200-15000 area, index can look for some support, as higher degree correction from 16530 can come to an end down there. But of course, for any change in trend is not going to happen unless we see five subwaves up from the low. So for now, trend is down and can be looking for lower levels while 15812 swing high holds.

You can also check a quick short video about recent DAX development below:

Become a premium member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

Register here (Limited-Special 2 for 1 Offer available)

NZDJPY Update: It’s Coming Into 90 Area. Check our blog HERE.


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.