Dax Elliott Wave: Buying the dips at the blue box area
|In this article we’re going to take a quick look at the Elliott Wave charts of DAX published in members area of the website. As our members know DAX is showing impulsive bullish sequences and we are keep favoring the long side. Recently we got a 3 waves pull back that has ended right at the Blue Box zone (buying area). In the further text we are going to explain the Elliott Wave Forecast and trading setup.
DAX Elliott Wave one-hour chart 06.20.2024
DAX remains bullish against the 17629.4 pivot. The Index has made clear pull back in 3 waves. The price already reached Extreme zone ( buying area) at 18036.25-17653.97 and giving us reaction. As our members know Blue boxes are based on 100% – 161.8% Fibonacci extension area , that we trade in 3, 7, or 11 swing corrective sequence. DAX index should ideally make a rally toward new highs or 3 waves bounce alternatively.
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