DAX (Germany) Elliott Wave Analysis – Trading Lounge Day Chart

DAX Index Day Chart Technical Analysis

DAX (Germany) Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: Orange wave 2

POSITION: Navy Blue Wave 5

DIRECTION NEXT HIGHER DEGREES: Orange wave 3

DETAILS: Orange wave 1 has been completed. Now, orange wave 2 of 5 is in play.
Wave Cancel Invalid Level: 17029.88

The DAX (Germany) daily chart currently reflects a counter-trend movement, signaling a corrective phase in the market. The focus is on the Elliott Wave structure of orange wave 2, part of a larger wave pattern.

At present, the market is situated in navy blue wave 5, suggesting the wave cycle is nearing completion. The next anticipated movement is toward orange wave 3, indicating a potential upward shift once the current corrective phase is complete.

Orange wave 1 has concluded, marking the finish of the initial impulsive wave and the start of the corrective phase now in progress with orange wave 2 of navy blue wave 5. This indicates a period of consolidation or pullback before a significant move is expected.

The invalidation level for this wave count is placed at 17029.88. Should the market breach this level, it would invalidate the current Elliott Wave structure, prompting a reevaluation of the wave count.

In conclusion, the DAX is undergoing a corrective phase with orange wave 2 of navy blue wave 5 active. Orange wave 1 is finished, and after this correction, the market is projected to move into orange wave 3. The key invalidation level remains at 17029.88, which is essential for monitoring the validity of this analysis.

DAX (Germany) Elliott Wave Analysis – Trading Lounge Weekly Chart

DAX (Germany) Weekly Chart Analysis

DAX (Germany) Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Navy blue wave 5

POSITION: Gray wave 3

DIRECTION NEXT LOWER DEGREES: Gray wave 4

DETAILS: Navy blue wave 4 has been completed. Now, navy blue wave 5 is in play.
Wave Cancel Invalid Level: 17029.88

The DAX (Germany) weekly chart shows the market in a trend phase, reflecting impulsive movement. The Elliott Wave analysis targets navy blue wave 5, a key element of the broader wave cycle.

Currently, the market is positioned in gray wave 3, suggesting the continuation of this impulsive trend with navy blue wave 5 active. This wave represents the final upward push before the market transitions to a corrective phase. The next step, gray wave 4, is expected after the current impulse phase ends.

Navy blue wave 4 has concluded, signaling the completion of the corrective wave and the start of navy blue wave 5, indicating that the market is in an advancing phase with potential for further upward movement.

The wave cancel invalidation level is set at 17029.88. If the market falls below this threshold, the current Elliott Wave count would be void, requiring a reevaluation of the trend and wave pattern.

In conclusion, the DAX is following an impulsive trend, with navy blue wave 5 in progress after the completion of navy blue wave 4. The next anticipated phase is gray wave 4 following the conclusion of gray wave 3. Traders should monitor the invalidation level at 17029.88 to confirm whether the current wave structure remains valid or if market conditions warrant a reassessment.

Technical Analyst: Malik Awais

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