The Hypo 1 (Cyan) suggests that we have completed the Wave a as a leading diagonal which suggests shorting for downside target of the white box support region.
However if we consider the more bearish Hypo 2 (Red) then we can say that the Wave c of Wave B was an Ending Diagonal and we can see for much lower targets in this case.
Since both the Hypos are pointing to the downside, it provides a very low risk shorting opportunity to us with SL just above the W.a (Cyan) high.
However if we consider the more bearish Hypo 2 (Red) then we can say that the Wave c of Wave B was an Ending Diagonal and we can see for much lower targets in this case.
Since both the Hypos are pointing to the downside, it provides a very low risk shorting opportunity to us with SL just above the W.a (Cyan) high.
Note
Since DAX has consumed too much time sideways instead of going down as we expected it would be best to book partial shorts at the current level and move SL for the rest to breakeven : Note
DAX 5 Waves down seem complete, conservative traders can exit complete position here : Trade closed manually
Partial profits were booked above the support zone and rest position was trailed to breakeven.
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Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Unmatched 80% plus forecast accuracy for 6 years : 50eyes.com/forecast-accuracy/
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.