DAX: Getting ready for the next expansion cycle
Technical Analysis and Elliot Wave Analysis of DAX, the major german index and probably the most important one in Europe.
Weekly chart: DAX
Bullish overall
Let's zoom out and take a look at a daily chart of DAX
Still on the triangle and looking for confirmation
In the near future still has to break the massive triangle but overall the price structure is bullish.
May take some time to confirm the next leg up but looks that's getting ready for a solid bump.
My labeling for DAX is the same, but I think wave b of D has already started. It was 5 waves up so we are looking for a ZigZag to complete wave D.
The upper triangle line should to be drawn between the high of B and the high of D, but I know you did it for estimating where D could finish.
Nice one. Are you actually trading it?
Thanks for posting !
Yes, I am. But until the triangle is finished only intraday scalping for a few points.
Learned my lessons in the DAX ;-)