Today I present you two possible counts of the DAX. I think those are the two most likely next moves of this index.
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First, the continuation of the downtrend...
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![chart230820171954DAX.png](https://steemitimages.com/DQmcqM996xGN4MVaQyMcLbBqkXYzXyTSA8ZFe8bKdbMj5C4/chart230820171954DAX.png)

The DAX is still unable to break the downtrend of the last two months, which is why I have to favor the bearish scenario. The stochastics indicator in the 4 hours chart is overbought, which means that a significant drop in price could lead to wave of mass selling.

But, there is also a bullish scenario...
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![chart-23082017-15957-DAX.png](https://steemitimages.com/DQmPaVbyToK34NCqj11rrKAt4XFdBkZEVLH22ebgX3Apwuj/chart-23082017-15957-DAX.png)

So if I see a strong move up after this little correction right now, I will buy some long positions...
![image (5).png](https://steemitimages.com/DQmSJFCmiPGGtTrvw93vM77RZsA56t47xh9DbFpbqJxfgoA/image%20(5).png)
If you think this to be useful information:
![DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk.gif](https://steemitimages.com/DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk/DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk.gif)
![image (5).png](https://steemitimages.com/DQmSJFCmiPGGtTrvw93vM77RZsA56t47xh9DbFpbqJxfgoA/image%20(5).png)

DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way i see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post.
If you make any trades after reading this post it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

Tell me what you think...

Have a nice day :-)