AB=CD Pattern | Potential Short

It seems, that we have completed an AB=CD Pattern. Before we enter the trade we would need a volume spike. If the volume increases significantly, we can move short with TP 1-3:

TP 1: 13,200
TP 2: 13,000
TP 3: 12,600

This trading opportunity would be invalid, if the volume spike does not occur.

Comment:

There is still no volume spike; so I did not execute the trade. Apart from that Mr. Trump just said at the WEF that there won't be any trade tariffs on German cars. In addition, some good ZEW data was announced. So let's be patient.

Trade active

Comment:

Move SL to BE

Comment:

Adjust TP 1: 13,320

Trade closed manually:

We just saw a very strong pullback. So I closed the trade manually, but I keep the trading idea. If we see a breakout on of the trend channel, this would be a bullish sign.

Trade active:

I used the pullback to reenter the trade around 13,570. SL is now 13,640. So, SL or TP. Let it go...

Comment:

TP I reached: 13,320 (Move SL to BE, in my case to 13,570).

Comment:

As of today, TP 2 is around 13,020. But we might see some pullbacks.

Trade closed manually:

I closed the trade manually at 13,200. Nevertheless I keep 25% of the original trade size with target 13,020 and SL 13,320. Rational: China may use an HIV medicine to treat the coronavirus. Which might push the markets again.

TP I: 250 points
TP II (manually): 370 points
TP III (still running): 570 or 250 points (time will tell)

Trade closed: target reached:

OK, this was really quick. Actually, I have closed the remaining part at 12,970. So I made 600 points with the remaining 25%. We might see the original TP III, but I am done for the time beeing. For those among you who are still in the trade, I cross my fingers for you ;) I will post the next trade as soon as the fog will be settled. I hope you enjoyed and like the trading idea. CU soon ;)