Elliott Wave Analysis: German DAX Looking For Final Bullish Wave
Elliott Wave Analysis: German DAX Looking For Final Bullish Wave
Here we see price trading in a bullish impulse, with price specifically trading at the end of wave 4). Wave 4) is a corretive wave that, can unfold as a flat, zig-zag or complex pattern, such as a triangle. In our case, we see price trading within a triangle correction, that can be in final stages. A breach above the upper triangle line would indicate a completed wave 4) correction and wave 5) to be in progress.
German DAX, 4H
We also know that a triangle correction, usually appears prior to the final wave, which means if we are looking at a bullish trend and if a triangle corrections shows up, a new push higher could be in the cards, once tre triangle unfolds. A triangle is also a five-wave pattern, with each leg having three more sub-waves.
A triangle pattern example:
Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.
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