DAX - an 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 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 below neckline, but we will wait for break of a in the zone 11400-11425 which is critical zone.
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
Calling the Top in DAX at 11893.
At 11270-11290 -likely heads next.
Abhishek H. Singh, CMT
Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw