If price drops from 38% Fibonacci, we'll probably see a 5 wave structure giving us a new lower low...
If 50% or 618% Fibonacci is the target, we'll see a 3 wave structure and you'll see a different structure develop...
We'll see how it all plays out, I'll keep you updated.
As we can see on daily and weekly charts, the DAX index is bearish at the long terms.
For the long terms, I believe the DAX is on his way to reach 10.840 zones, that because it is the next Fresh demand that can stop this bearish momentum. The supply levels above are a great continuation Levels, I'll sell at the first one if the price will reach that supply, and if...
Bearish H&S Pattern DAX
Although the current bearish H&S pattern on DAX is not
symmetrical i.e. the right shoulder is higher than the left
shoulder, however, it still is indicative of a bearish correction
to take place; also, this unsymmetrical setup does form a
megaphone setup if you draw trend lines extending from the
right to left shoulder and from the low...
2 Impulse moves down with 2 impulse move up; against a possible completed counter move up on the daily. Overhead medium term resistance
at proxy to current 30 minutes top. Gives very tight point of ruin for anticipated move to 13100 zone. 16th January 2018.