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-Index-Daily-Char...


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

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

Previous: Swiss Market Index Elliott Wave Technical Analysis 

Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

DAX-Index-Weekly-Cha...

Related

Silver Commodity Elliott Wave Forecast: XAGUSD Technical Analysis Signals End of Correction and Start of Bullish Trading Opportunity

Silver Commodity Elliott Wave Forecast: XAGUSD Technical Analysis Signals End of Correction and Start of Bullish Trading Opportunity

Silver is in a wave (2) correction phase nearing completion. Learn what Elliott Wave patterns reveal...

Read More >
Elliott Wave analysis for Meta Platforms Inc. (META) Stock, Covering both Daily and 4-hour charts Technical Analysis

Elliott Wave analysis for Meta Platforms Inc. (META) Stock, Covering both Daily and 4-hour charts Technical Analysis

This article provides a detailed Elliott Wave analysis for Meta Platforms Inc. (META), covering both...

Read More >
S&P/TSX 60 Elliott Wave Analysis Shows Bullish Trend Developing With Strong Impulsive Structure and Upward Market Momentum

S&P/TSX 60 Elliott Wave Analysis Shows Bullish Trend Developing With Strong Impulsive Structure and Upward Market Momentum

S&P/TSX 60 Elliott Wave forecast highlights an ongoing bullish trend marked by impulsive wave struct...

Read More >
Stock Market Analysis: Elliott Wave Insights & Strategies NASDAQ, AAPL, AMZN, NVDA, TSLA, GOOGL, META, NFLX, MSFT (VIDEO)

Stock Market Analysis: Elliott Wave Insights & Strategies NASDAQ, AAPL, AMZN, NVDA, TSLA, GOOGL, META, NFLX, MSFT (VIDEO)

Stock market analysis and trading strategies: NASDAQ, Apple (AAPL),Tesla (TSLA), Amazon (AMZN), Nvid...

Read More >
Optimize Your Trades with Detailed AAVEUSD Elliott Wave Analysis, Market Trends, and Actionable Trading Signals

Optimize Your Trades with Detailed AAVEUSD Elliott Wave Analysis, Market Trends, and Actionable Trading Signals

Explore comprehensive AAVEUSD Elliott Wave insights, including technical analysis, trading strategie...

Read More >
Polkadot/U.S. dollar(DOTUSD) Elliott Wave Technical Analysis 15 January 24

Polkadot/U.S. dollar(DOTUSD) Elliott Wave Technical Analysis 15 January 24

Polkadot and U.S. dollar(DOTUSD) Elliott Wave Technical Analysis dated 15 January 24, Crypto Elliott...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competive edge with expert insights in to:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
-Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on