DAX into another wave up

posted by genuinelyFX at 07/12/2015 - 20:06 GMT

Bigger picture here. Pitchforks and percentages on a monthly chart. Nice support and resistance areas.

From the Dec.07 top we retraced 50% and then we advanced to 50% from the top. From the current bottom we could see another 25% increase in price towards 13000-13500.

©genuinelyFX_2015.07.12_DAX_monthly_percentages
DAX monthly data

 

On a weekly basis, we see some good angles holding up. Squaring the low also gave us some targets.

We are currently bouncing from an angle drawn from the recent low. Uptrend intact.

©genuinelyFX_2015.07.12_DAX_weekly_angles
DAX weekly data

From an Elliott perspective, we still have waves to climb. Although, this is a fifth, we could see some messed up waves overlapping and confusing. Still a target above 13.000.

©genuinelyFX_2015.07.12_DAX_weekly_elliott
DAX weekly data

 

The actual low was in June 2012. Pretty sweet.

©genuinelyFX_2015.07.12_DAX_daily_analogy
DAX daily data

 

The count might be complete. The advance should continue, current resistance at 11600.

©genuinelyFX_2015.07.12_DAX_2h_elliott
DAX 2h data

~genuinelyFX

 

 

 

 

 

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