AbhishekHSinghCMT

DAX - A Possible Top in Place@11893 -Leak from H&S Pattern

Short
INDEX:DEU30   DAX PERFORMANCE-INDEX
197 views
9
Among the Major European indices-DAX is an important one -seems to put a top @11890's & why we should be careful- as I always kept telling Jan-Feb2017-be careful. Do not get trapped in Euphoria otherwise you will be hit hard & do not close your eyes to the real picture.

DAX - an ABC structure almost done & expected in last update - "The Last Bulls Capsule from 11400- Trump Card" look it was 11893 - a jump of 500 points -which is huge for an Index.

From the highs of 11893 -It has traced & giving a possible appearance of an H& S Pattern- sudden leak below 11400 shall confirm that Top is in place.

What is H&S Pattern
Stands for Head & Shoulder Pattern - neckline is the support line connecting the center of L.S. (Left Shoulder) - Head & The center of Head & R.S.(Right Shoulder)

How you get target in this traditional & most effective pattern
Measure vertical distance from Head to Neckline & project it below neckline that is the minimum target for the pattern( Shown by Orange Line)

Pattern Activates
Pattern activates below neckline, but we will wait for break of a double bottom in the zone 11400-11425 which is critical zone.

India Nifty
A similar A-B-C Structure but yes C-wave got extended to its extreme end & why you should be careful because if friends are in trouble how can Nifty run away from the pain.

You would love to read previous updates
Last Bulls Capsule from 11400 -Trump Card

Nifty- Happy Republic Day- Jump from 8320- Jump to remember for a lifetime

Bank Nifty- Happy Rebuplic Day- Jump from 18720's - Jump to remember for a lifetime

Trade active: 20:46 Hrs 16th Feb2017

Calling the Top in DAX at 11893.

At 11270-11290 -likely heads next.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

Twitter Handle
https://twitter.com/TalksWave

Telegram Handle
https://t.me/wavetalks

Comments

abhishekji any clarity on nifty ? especially any counts
Reply
AbhishekHSinghCMT uttamtrader15
@uttamtrader15, We will waiting for Nifty to go below 7680-7720 zone then it gives us clue that it is done on top -likely we should be careful on top -going above 8820 & falling below 8800 immediately - if this happens then its a problem on long positions.
Reply
nice to see ur analysis ................ur analysis unbelievable
Reply
@AbhishekHSinghCMT, Was curious to know. On which platform do you trade DAX index. Where is the DAX futures contract available to trade in India ? Thanks in advance for your reply.
Reply
@SatishBoda, I don't trade DAX- I just track DAX
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out