ElliottWaveBelgium

DAX - Going higher once more before stalling end May and June ?

Long
TVC:DEU40   GERMAN STOCK INDEX (DAX)
Price has been pretty easy to ready up to now as you can see an impulsive move up where wave (iv) is a clean Zigzag correction with a Triangle for orange wave b.

This indicates that this move down is counter and not establishing a new down trend.

Therefore we can expect price to go higher once more to finish blue wave (v).
As you can see there's a nice Fib cluster around the 15700/15900 zone, so be aware of that as it could act as resistance and might be the turning zone.

This setup is of course invalidated if price drops below 14845.

-> Buying here with a stop at invalidation gives a Reward/Risk of a bit less than 2:1 so, try and find a better place for your stop if you want to improve your R/R ratio. (Hint look at smaller time frames)



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