DAX GermanyThis chart looks at the DAX index from Germany.
It may be creating a Bearish Head&Shoulder topping pattern at at 13500.
2 day consecutive closing below the neckline of 11950 should be a confirmation.
We must wait and see.
GER40 trade ideas
Ger30 Panic ModeGer30 is falling badly.
Turkey doubled the tariff on some US imports as a retaliation so we are expecting Trump to trump.
Also, China filed complained in World Trade Organization on the tariff imposed.
Technically, if this pattern is validated with the continuation of red, it will be a deadly one!
DE30EUR ShortShort due to formation of a Descending Triangle . Will hit 3 different support levels. best to wait and watch and place a trade after prices follow the trend predictions
DAX BULLISH 13650 It has been over four months since we last wrote about the German DAX 30. The blue chip index was trading around 12 700 following a sharp selloff from as high as 13 602
DAX- Uptrend over?Dax seems to have topped out on bearish MACD Divergence. Watch supports drawn on the charts.
DAX- (Weakness -Reversal Pattern )can march toward 12500-12300 DAX- index can march toward 12500-12300 new negated
DAX - A Possible Top in Place@11893 -Leak from H&S PatternAmong 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
DAX & India Nifty- The Last Bulls Capsule from 11400 -Trump CardDAX- Since Feb2016 lows@8699 is a complicated move ABC on a larger degree& when this gets over- we reach back to bottom@8699-obviously -it will never fall straight-as we all know that financial instruments never move in a straight line.
So, its a nested structure till the time 11400 is intact downside. Any pullback on account of Mr. Trump's joining office 20th Jan2017 shall be watched keenly across the globe-
Indian Group performing- Go Man Go!
Don't forget to see an Indian choreographer-Suresh Mukund from Nalasopara, would be performing at the inaugural ceremony before US President-elect Donald Trump joining office on January 20.
From 9225 lows DAX is moving into a nested impulsive structure & the last one for the season to continue upside against 11400 key & critical support.
So, there is a space of 200 points in DAX between 11600-11400 where it could dance on account of trump event, but likely holding 11400 -it moves upside making a new high above 11692- so any pullback is the buying opportunity in DAX
Finally, I am sorry to tell you that once capsule effect is done the pain shall start back.
India Nifty
The Box -Index is trading between 8460 & 8370 -likely any pullback is the buying opportunity in Nifty -keeping 8460 intact on top-for the day- we will look for 8370 & below 8370 for 8325-8275 these are all supports where bulls will be interested to come back again for the last laugh.
Look the Structure in Nifty & DAX - Both are ABC-----------ABC.
Thanks & Regards,
Abhishek H.Singh, CMT
DAX- What a Dax? -Bang on Target (500 points Rally)As expected the push in ii- wave- the bounce from the zone 10180-10212 was rock solid, but small issue as my key level@10730 has been broken on top so likely I will wait for the market to show me its direction further- which I will be searching on the downside.
So, Let us wait for further clues from the market.
DAX- Bleak times ahead with key level@10730(L-S)- Long First & Short Later
The fall of 10730 was impulsive & almost came close to prior swing low@10190. Recent Low was 10212- Likely looking for a push upside on account of U.S. Elections -which could be short lived, so if DAX fails to cross 10730 or go close to that end- looking at all possibilities, we should avoid taking any long positions in the zone 10500-10730- rather plan to exit markets.
In all scenario- Nov-Dec 2016 could be bleak for European markets. Going into year 2017- first few months shall be better, but ultimately- it should continue down
Primary Strategy
We should look for bearish opportunities if we get the index in the range 10500-10700 with key resistance at 10730- This view gets invalidated if DAX crosses 10730 highs.
Alternate Strategy
Look for any bullish opportunity only if we get a close above 10730- key level
DAX (Weekly Chart)The structure of Bearish Gartley (marked blue) and Bearish AB=CD (marked green) suggests an end of honeymoon period for bulls. With ECB meeting scheduled today and INDEX:DAX trading around 10,750, there can be short opportunity in the range of 10,800-10,950 for the target of 9,300-8,800 with the stop loss of 11,500.
