DAX Forecast: Exploring Wave Patterns and Correction Scenarios๐ŸŒ

์—…๋ฐ์ดํŠธ๋จ
German DAX Analysis

Taking another look at the German benchmark index, the DAX DAX , our scenario remains unchanged. If we don't breach the 18,000 EUR mark, we anticipate continuing with Wave IV, which is expected to range between 10,000 โ‚ฌ and a maximum of 7,500 โ‚ฌ, depending on the potential overshoot of Wave (B).

This scenario will be invalidated if we surpass the 138 % level.

Zooming into the 4-hour chart, we observe the formation more closely, potentially shaping Wave ((b)) that is currently in development. The 1-hour chart gives us an even closer view, indicating we are precisely in this phase of Wave ((b)). Crossing over 17,218 โ‚ฌ would likely invalidate our current scenario, prompting a reevaluation of where Wave (B), marked in blue, could be locatedโ€”potentially moving towards 17,500 โ‚ฌ or up to 18,000 โ‚ฌ.

Should there be a turn at this juncture, we might see a flat correction, an overshooting flat moving down towards Wave ((c)) or Wave 1. After reaching the 127-138 % range, this phase should conclude with a 5-wave cycle downwards.

์•กํ‹ฐ๋ธŒ ํŠธ๋ ˆ์ด๋“œ
Our limit for the short position got filled โœ…There's nothing more to say except that we'll have to wait and see how it turns out.
correctionDAX IndexElliott WaveFibonaccigermanindexshortSupport and Resistance

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