German DAX Trading In A Bullish Cycle

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On the daily chart of German dax we can see the price is nicely rising over the cours of this year and last year. We see a bullish cycle in the making with the price specifically trading at the end of a higher degree wave III. Once wave III fully unfolds, a new minimum three-wave reversal lower may come in play as in wave IV, that can later search for a base near the 11461/11916 zones of former degree wave fours. On that note, we know that wave four corrections can take longer periods of time to fully develop, which means this reversal can take quite longer than the temporary correction within wave II that unfolded at the end of June of 2016.

German dax, daily

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About Author

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!

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