DAX Short term Elliott Wave View suggests that the rally from January 28, 2021 low is unfolding as a 5 waves impulsive Elliott Wave structure. The Index ended wave 3 of this impulsive rally at 14804.01. Internal of wave 1 unfolded as an impulse in lesser degree. Wave ((i)) of 3 ended at 14197.49, and pullback in wave ((ii)) of 3 ended at 13868.20. Index then resumed higher in wave ((iii)) of 3 at 14595.02, and pullback in wave ((iv)) of 3 ended at 14409.35. Final leg wave ((v)) of 3 ended at 14804.01

Wave 4 pullback is currently in progress as a zigzag Elliott Wave structure. Down from wave 3, wave ((a)) ended at 14539.27, and bounce in wave ((b)) ended at 14707.37. Final leg lower wave ((c)) is expected to complete at the blue box area of 14280 – 14443. This is a 100% – 161.8% Fibonacci extension of wave ((a))-((b)). From this area, we expect the Index to extend higher in wave 5 or bounce in 3 waves at least. Potential target for wave 5 at minimum is 123.6 – 161.8% external retracement of wave 4 which is around 14887 – 150225.

DAX 45 Minutes Elliott Wave Chart

DAX Elliott Wave Video

DAX has broken to new all-time high suggesting the next leg higher has likely started. Short Term Elliott Wave View on the Index suggests the rally to 14169.49 high ended wave (1). Pullback in wave (2) is proposed complete at 13664.06 with internal subdivision as a double three Elliott Wave structure. Down from wave (1) peak, wave W ended at 13830.12 and bounce in wave X ended at 14131.21. Final leg lower in wave Y ended at 13664.06 this completed wave (2).

Index has rallied higher and broken above wave (1) peak suggesting wave (3) higher has started. Up from wave (2) low, wave 1 ended at 14051 and wave 2 pullback ended at 13673.07. Index then resumed higher and ended wave ((i)) of 3 at 14197.49. Wave ((ii)) is now in progress to correct cycle from February 26 low before the rally resumes again. As far as pivot at 13664.06 low stays intact, expect dips to find support in 3, 7, or 11 swing for more upside. Potential target higher is 100% – 161.8% Fibonacci extension from January 28 low which comes at 14532 – 15066.

If wave (2) pivot at 13664.05 fails, then as an alternate path, Index can do an Expanded Flat within wave (2). In this scenario, the decline to 13664.05 ended wave A and the rally to 14197.49 ended wave B and then now Index is doing 5 waves down to end wave C of (2) Flat.

DAX 45 Minutes Elliott Wave Chart

DAX Elliott Wave Video

Short term Elliott Wave view on DAX suggests that the decline to 13309.4 ended wave ((4)). The Index has resumed higher in wave ((5)) with internal subdivision as a 5 waves impulse Elliott Wave structure. Up from wave ((4)) low, wave ((i)) ended at 13698.54 and wave ((ii)) pullback ended at 13403.74. Index then resumed higher again in wave ((iii)) towards 14114.44, pullback in wave ((iv)) ended at 14013.13, and final leg higher wave ((v)) ended at 14169.49. This completed wave 1 in higher degree.

Index then pullback in wave 2 and the internal subdivision is unfolding as a double three Elliott Wave structure. Down from wave 1, wave (a) ended at 13962.14, wave (b) ended at 14063.12, nd wave (c) ended at 13830.12. This completed wave ((w)) in higher degree. Bounce in wave ((x)) ended at 14131.21. Index has scope to extend lower in wave ((y)) as zigzag towards 13579 – 13791 blue box area where wave ((y)) = 100% – 161.8% Fibonacci extension of wave ((w)). This should complete wave 2 pullback and from this area, Index can either resume to new high or bounce in 3 waves at least.

DAX 1 Hour Elliott Wave Chart

DAX Elliott Wave Video

Rally from November 30 low in DAX ended at 13774.45 as an impulse Elliott Wave structure. This 5 waves rally completed wave (1) in Intermediate degree. Pullback in wave (2) has also ended at 13061.40. Index has since resumed higher in wave (3) . It broke above wave (1) high, confirming the next bullish cycle has started. Up from wave (2) low at 13061.40, wave ((i)) ended at 13266.49 and pullback in wave ((ii)) ended at 13146.50.

Wave ((iii)) is currently in progress as another 5 waves in lesser degree. Up from wave ((ii)) low, wave (i) ended at 13441.59 and pullback in wave (ii) ended at 13342.71. Expect another push higher to end wave (iii), then Index should pullback in wave (iv) before another leg higher to end wave (v) of ((iii)). Afterwards, expect a pullback in wave ((iv)) before another leg higher to end wave ((v)). This should also complete wave 1 in Minor degree and end cycle from December 21 low. Index should then pullback in wave 2 to correct cycle from December 21 low before the rally resumes. As far as December 21 pivot at 13061.40 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

DAX 1 Hour Elliott Wave Chart

DAX Elliott Wave Video

Short term Elliott Wave view in DAX suggests the decline to 11450.76 ended wave ((2)). This pullback ended the correction to the cycle from March 16, 2020 low. Index is proposed to have turned higher in wave ((3)), but it should still break above the previous peak on September 3 at 13460.46. A break above this level will confirm the next leg higher has started and rule out a double correction in wave ((2)).

Internal of wave ((3)) is unfolding as an impulsive Elliott Wave structure. Up from wave ((2)) low at 11450.76, wave 1 ended at 12087.64 and pullback in wave 2 ended at 11848.21. Index resumes higher in wave 3 towards 13297.05, and pullback in wave 4 ended at 13004.82. The final leg wave 5 should end soon with 1 more leg higher. This should complete wave (1) of ((3)) in higher degree. Afterwards, expect Index to pullback in wave (2) to correct cycle from October 30 low before the rally resumes. As far as pivot at 11450.76 low stays intact, expect dips to find support in the sequence of 3 , 7, or 11 swing for further upside.

DAX 45 Minutes Elliott Wave Chart

DAX Elliott Wave Video