DAX30 Elliott Wave 11 May 2018
DAX30 Elliott Wave UKX100 / FSTE100 and AEX European Indices as CFD Trading
Elliot Wave DAX30 shows a resistance and completion of an impulse wave to the 13,000.
In terms of our Trading Levels 13,000 is a Major TradingLevel (TL13) and will typically show a corrective pattern.
The Trading Strategy has been to trade to 13,000 and exit. That said, for scalpers the market can move to 13,050-13,100. The AEX and the UKX100 show much the same ending Elliott impulse wave pattern which is in line with the S&P 500.
NOTE: with our Bullish Weekly Cycle, if Friday closes high then Monday can follow. Though, so being long above 13,000 in the DAX30 use tight stop loss orders and follow it higher. But if it shows a move back below 13,000 (TL13) then a top is forming.
Elliott degrees in order: Grand Super cycle wave, Super cycle wave, Cycle wave, Primary wave, Intermediate wave, Minor wave, Minute wave, Minuette wave and Subminuette wave.
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