DAX Analysis - Exploring Potential Corrections 📉

29 Nov 2023

Hello Friends 😁

Since our last analysis of the DAX, significant developments have unfolded. We've adjusted the analysis slightly to the left, identifying Wave 3, Wave 4, and Wave 5, or alternatively, Wave 1 and Wave A. In my perspective, the upward trend represents either a Wave B or Wave 2 correction. As long as we stay within the 100% correction, it continues to signal a Wave 2 correction. Anything beyond 100% could indicate a Wave B correction.

Regardless, I anticipate a substantial downturn. Consequently, I expect an entry point at 90%, as this level is likely to be reached, especially after surpassing the 78.6% mark. There is a possibility it could correct up to 100%, but personally, I plan to enter at 90%, with a slightly wider stop-loss for added security. I do not anticipate a new All-Time High or expect the current All-Time High to hold for an extended period. 💥🔍