German DAX in a bull trend

Gregor Horvat Wavetraders

Hi traders!

Dax made a bounce from the 11322 level, where a bigger A-B-C move had found a low. Impulsive recovery which unfolded is an indication that a bigger, five-wave, bullish cycle can be unraveling on the dax, however we still need to be aware of temporary pullbacks along the way.

At the moment we are observing final stages of a wave 1) of a bigger cycle, which can once completed push price into a three-wave correction for a wave 2, with support at the 12543/12328 zone.

German DAX, 4h

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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