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
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20:46 Hrs 16th Feb2017
Calling the Top in DAX at 11893.
At 11270-11290 -likely heads next.
Comments
uttamtrader15
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abhishekji any clarity on nifty ? especially any counts
WaveTalks
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@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.
VimalVashisth
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nice to see ur analysis ................ur analysis unbelievable
SatishBoda
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@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.