Stocks

DAX Is Trading In 5th Wave Of Elliott Wave PatternJan 25, 2023

DAX is trading in 5th wave; now we see it unfolding a five-wave bullish impulse of the lower degree with room for more gains after set-back.

DAX is making strong and big recovery, ideally a five-wave impulse that can send the price even higher after a recent pullback to 13700 that can be completed wave 4 irregular/expanded flat correction.

DAX Is Trading In An Extended 5th Wave DAX 4H Chart
DAX 4-Hour Chart

Notice that recovery is strong once again this week and looks like an impulsive subwave (3) of five, after breaking to a new high, so more gains can follow for final fifth wave up, but probably after current subwave (4) correction. The ideal support comes around 14700-14600 area.

DAX Is Trading In An Extended 5th Wave DAX Impulse Basic Chart
Impulse Basic Chart

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