Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of Eurostoxx $ SX5E published in members area of the website. As our members know, we were calling the decline after 3 waves recovery against the 4416.08 peak.
In further text we’re going to explain Elliott Wave Forecast.
Eurostoxx 1 Hour Elliott Wave Analysis 12.8.2021
Eurostoxx is giving us recovery ((B)) back 4against the 4416.08 Recovery seems to be unfolding as Elliott Wave Flat pattern. We got 3 waves up in (A) leg and 3 waves down in (B) wave. Currently we are about to complete 5 waves up in (C) blue leg, which is last leg of proposed flat pattern. Recovery can be ending soon at 4221.3-4321.1 area. We expect sellers to appear there for further decline or 3 waves pull back at least. Don’t recommend buying the index at this stage.
You can learn more about Elliott Wave FLAT Patterns at our Free Elliott Wave Educational Web Page
Eurostoxx 1 Hour Elliott Wave Analysis 12.15.2021
The index found sellers right at the proposed area : 4221.3-4321.1. We got nice decline Eurostoxx , calling correction completed at 4288 peak. Break of 30/11 low is needed to confirm next leg down is in progress. Otherwise double in (B) blue cannot be ruled out. We expect to see further decline ideally.
Eurostoxx 1 Hour Elliott Wave Analysis 12.15.2021
The indexes keep trading sideways to lower and we got further separation against the 4288 peak as expected. However the price hold above previous 11/30 low. Sellers were not strong enough to make break of that low and in the meantime we got strong rally from the 4046.4 low that looks impulsive. Current view suggests (B) blue recovery still can be in progress as Elliott Wave Flat pattern, looking for 4308.5-4370. At that area we can see sellers again for decline toward new lows or for a larger 3 waves pull back.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.
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