Wednesday, November 1, 2017

Elliott Wave Analysis of the German DAX - A potential large degree top could be in place soon



Elliott Wave Analysis of the German DAX - A potential large degree top could be in place soon

In my post from October 5 - 2017 I called for a continuation of the uptrend towards the 13,424 - 13,435 this target was eclipsed today and a large scale top could be seen soon.

A large degree five wave rally can be counted from the March 2009 low of 3,589 and from February 2016 a minute degree five wave rally can be counted.

To indicate that the top is in place, a break below 13,197 and more important a break below support at 12,931 will be needed.

The risk/reward ratio no longer favor the upside, so tighten your stops.

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