To be honest, I am not much of an elliott wave guy and have a basic understanding of it. However, it looks like the DAX is making a 5th wave extension of a 5th wave extension. see link here for 5th wave extensions. figure 1-10 www.elliottwave.com/...rial/Lesson2/2-2.htm
If I am correct, the DAX might not have much room to the upside. If the Dax makes a w4 then a w5 up to finish the 5th wave extension to complete W3. It could present a good rr short with a tight stop with a target of 10764- 10600 Note, would wait for daily confirmation to short with signs of clear rejection, because the Dax is quite strong.
If I am correct, the DAX might not have much room to the upside. If the Dax makes a w4 then a w5 up to finish the 5th wave extension to complete W3. It could present a good rr short with a tight stop with a target of 10764- 10600 Note, would wait for daily confirmation to short with signs of clear rejection, because the Dax is quite strong.
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Break feb lows and there is some air below.
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daily look