DAX Elliott Wave Analysis for Monday 15/01/2024 (+ HTF)

13. Jan.

In the higher time frame, it looks like we started a new upward cycle from the October low. This means the wave ((2)) low is in after an expanded flat. The alternative scenario assumes a wave (2) low of a lower degree. In the lower time frame, we are observing ending upward structures. However, another high as a wave 5 cannot be excluded. The primary scenario suggests that wave 4 has finished as an ABC structure. Doing the double correction as a WXY cannot be excluded.