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Short

DAX : Huge downside possible (Elliott Wave)

OANDA:DE30EUR   Germany 30
From this current chart which is one of the two counts I have currently (both extremely bearish ), it looks like we can see huge down move in DAX             .
Wave 2/B which moved up in 3 waves with Wave B (Circled) being a Running Triangle seems to have completed, but even it is still continuing the scenario for DAX             (German Index) remains sideways to bearish and hence shorts looks attractive in this market situation.
Stop Loss : Swing High : 13205
Target 1 : 12268
Target 2 : 11859
Comment: It is still possible that W.B (Circled) is still continuing, hence SL should be kept at swing high :
Comment: DAX : Expected progression :
Comment: Unclear as to if W.2 is complete or still continuing :
Comment: DAX : Hypo 1 : Looks to be moving up for W .c, we need to see a reversal near the marked zones to initiate any shorts :
Comment: DAX : Hypo 2 : The strength in the last Impulse up is enormous and hence we can not ignore this bullish Hypo for now although my personal bias is still bearish :
Comment: T1 level has been achieved and the whole structure seems to have unfolded as a Flat correction as the W.B/2 up has given a very deep retracement hence all shorts should be closed in profits at once :
Trade closed: target reached
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In the Hypo 2 discussed below we see nested 1-2-1-2 structure to the downside suggesting again good bearishness.
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