HomeContributorsTechnical AnalysisDAX Looking to Do Double Correction

DAX Looking to Do Double Correction

Cycle from 10.23.20223 low in DAX is in progress as an impulse Ellliott Wave structure. Up from there, wave 1 ended at 17003.28 and wave 2 pullback ended at 16345.02. The Index rallied higher again in wave 3 towards 18567.16. Pullback in wave 4 is currently in progress as a double three Elliott Wave structure. Down from wave 3, wave (a) ended at 18275.94 and wave (b) ended at 18427.43. Wave (c) lower ended at 18088.03 which completed wave ((w)) in higher degree. Rally in wave ((x)) ended at 18326.37 and the Index has turned lower again.

Down from wave ((x)), wave (w) ended at 18058.22 and wave (x) ended at 18239.50. The Index turns lower again in wave (y). Expect the Index to extend lower to reach the extreme area from 4.2.2024 high towards 17550.24 – 17733.23. This should complete wave (y) of ((y)) of 4. Afterwards, Index should rally from the blue box in wave 5 higher or rally in 3 waves at least. Near term, while below 18328.11, Index may see further downside to the blue box area.

DAX 60 Minutes Elliott Wave Chart

DAX Elliott Wave Video


By loading the video, you agree to YouTube’s privacy policy.
Learn more

Load video


Elliott Wave Forecast
Elliott Wave Forecasthttps://elliottwave-forecast.com
ElliottWave-Forecast has built its reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including Forex majors & crosses, Commodities and a number of Equity Indices from around the World. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Elliott Wave Setup videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

Featured Analysis

Learn Forex Trading