Apr 15, 2011

DAX - Elliott Wave Update

Last European more significant bear correction srarted 07/2007 and botomed at 03/2009. It unfolded in three waves A,B,C, and declined 56.11%. The B wave was nearly 161.8% of the A wave. Then the long term bull market probably resumed. The price paints fifths so far. When reached the B wave resistance, the price made very sharp counter reaction, and prodused reversal monthly (03\2001) candle (hammer).

The A,B,C pullback hit 61.8% Fibonacci level of the entire 1 st wave.

Good luck trading!

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