Eurostoxx (SX5E) Buying The Dips At The Extremes

Hello fellow traders.  As our members know we have had a lot of good trading opportunities lately.  Another instrument that we have been trading is Eurostoxx ( SX5E)  Index from Group 2. In this technical blog we’re going to take a quick look at the Elliott Wave charts of SX5E  published in members area of the website.  As our members know, Eurostoxx has been showing incomplete bullish sequences from the March 2020 low , targeting 4074.7+ area. Consequently we were calling for more strength in the Index, suggesting members to avoid selling it and keep on buying the dips in 3,7,11 swings.  In further text we’re going to explain Elliott Wave Forecast and Trading strategy.

Eurostoxx 1 Hour Elliott Wave Analysis 2.23.2021

Eurostoxx is giving us pull back 2 red that looks incomplete at the moment. So far we got only 5 swings from the peak. Incomplete sequences are calling for another leg down toward 3649.26-3606.19 ( buyers zone) . From marked Blue Box area area we expect rally to take us toward new highs ideally.  As our members know Blue Boxes are no enemy areas , giving us 85% chance to get a bounce.  Strategy is buying the dips at the marked blue box area.  As Eurstoxx is bullish against the 3479.22 low , we expect to see 3 waves bounce at least from the mentioned zone. As soon as the price reach 50 Fibonacci Retracement against the ((x)) black peak, we should make long positions Risk Free ( put SL at BE).


Eurostoxx 1 Hour Elliott Wave Analysis 2.26.2021

Eurostoxx found buyers at the blue box 3649.26-3606.19 area. All long positions are risk free at this stage ( we took partial profits and put SL at BE).  At the moment 3728.65 is the key level to watch. If it gets broken correction would be over . However at this stage we see possibility of another leg down toward next set of equal legs : 3629.63-3568.4. At that zone we would like to be buyers again.


Eurostoxx 1 Hour Elliott Wave Analysis 3.3.2021

Eventually we got another leg down toward blue box area ( 3629.63-3568.4) as expected.  Eurstoxx found buyers again and giving us nice rally. Long trades are risk free at this stage. We call wave 2 red completed at the 3622.34 low. However,  break of red 1  peak( 2/15) in order to confirm next leg up is in progress. We don’t recommend selling the index in any proposed pull back and favor the long side from the blue box. Short term rally from the 3622.3 low should be ending soon as 5 waves structure. We expect to see 3 waves pull back in ((ii)) black wave soon, after which rally should ideally  continue toward new highs.


Eurostoxx 1 Hour Elliott Wave Analysis 3.9.2021

We got ((ii)) pull back. Correction ended at 3656.2 low and we got rally toward new highs again.
Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences.We put them in Sequence Report and best among them are shown in the Live Trading Room


Elliott Wave Forecast